what is a contract? (chapter4)
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What is a Contract? (Chapter 4). Elements of a Contract (Chapter 5). What is a Contract? (Chapter4). How Contracts Come to an End (Chapter 6). The taking back of an offer by the offeror is cancellation. consideration. rejection. revocation. . revocation. 100. - PowerPoint PPT PresentationTRANSCRIPT
Nasca 2010
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What is a Contract?(Chapter4)
Elements of a Contract(Chapter 5)
What is a Contract?(Chapter 4)
How Contracts Come to an End
(Chapter 6)
The taking back of an offer by the offeror is
cancellation. consideration.
rejection. revocation.
revocation
100
A contract that contains a promise by both parties is
bilateral. express. implied.
unilateral.
bilateral.
200
To be effective, an offer must be communicated to the
attorney. lender.
offeree. offeror.
offeree.
300
In contract law, consideration can be defined as
anyone who enters into a legal contract has the ability to do so.
contracts that involve illegal acts are not allowed. both parties communicating clearly when entering into a
contract. the thing of value promised in exchange for something
else of value.
the thing of value promised in exchange for something else of value.
400
In order for the acceptance to be legally binding, it must be
unconditional and follow the rules regarding the
method of acceptance. made in person and follow the rules regarding the
method of acceptance. unconditional and in writing by the offeror and offeree.
made in person and in writing by the offeree.
unconditional and follow the rules regarding the method
of acceptance. 500
A contract that comes about from the actions of the parties
implied contract
100
Any agreement enforceable by law
contract
200
A response to an offer that changes the terms of the original offer
counteroffer
300
Proposal by one party to another party to enter into a contract
offer
400
A contract stated in words; may be oral or written
express contract
500
The age of majority in most states is
16. 18. 20. 21.
18
100
When a minor disaffirms a contract, the merchandise received upon entering the contract
should be
paid for. returned. ratified.
undamaged.
returned
200
A minor who claims to be over the age of majority commits
extortion. fraud.
larceny by false pretenses. misrepresentation.
fraud
300
A court may refuse to enforce a contract that it finds
illusory. inadequate.
fair. unconscionable.
unconscionable
400
A minor is held responsible for the fair value of
athletic shoes. CDs.
medical care. video games.
medical care
500
When a contract ends, it is said to be
avoided discharged. released. tendered.
discharged
100
The act of destroying someone's free will by force, threat of force, or bodily harm is called
duress. libel.
undue influence. slander.
duress
200
A deliberate deception to secure unfair or unlawful gain is called
a unilateral mistake. fraud. libel.
misrepresentation.
fraud.
300
If what seems to be a valid contract turns out not to be, the contract is
deceptive.defective. fraudulentmistaken.
defective.
400
Threats of a business nature that cause a person to enter into a contract without real consent would
qualify as
duress. economic duress.
fraud. undue influence.
economic duress
500