Business Law 2.01 - Elements And Characteristics Of A Contract - Part 2

Test Description: Contracts - Part 2

Instructions: Answer all questions to get your test result.

1) A threat against a person's business would violate which ELEMENT?

2) Agreeing to give false testimony violates which ELEMENT?

3) After being threatened at gun point, Dale cancels his contract based on which part of genuine agreement?

4) When Donnie, Matt, and Steve, all age 15 enter into a contract, what term describes this type of contract?

5) Betty lost her wallet at a school ballgame. She offers a reward of $25 to anyone who returns the wallet. What type of contract is this?

6) John sold a watch he owned. What term is used to identify the watch in this transaction?

7) Carol gives up her legal right to sue Janice. What term describes this situation?

8) Samantha decides to sell Joanne her music collection for $550. Both sign a written contract, but Joanne orally promises to add 2 more items to the collection after signing the contract. What law required the contract to be in writing?

9) John proposes to sell his car to Jan for $500. What element did John propose?

10) John agreeing to Jason's proposal to sell his car is which element?

11) If the offeror mails an offer to the offeree, and the offeree faxes the acceptance, when will the offer go into affect?


*select an answer for all questions

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