7 Genuine Agreement Question Preview (ID: 53000)


Chapter 7 Terms. TEACHERS: click here for quick copy question ID numbers.

What does to rescind mean?
a) To approve the contract.
b) To cancel the contract
c) To avoid the contract
d) To give back consideration or the contract.

The contract contains all elements makes it:
a) valid
b) void
c) voidable
d) ratified

To approve the contract is what:
a) valid
b) void
c) voidable
d) ratified.

1 Party can get out of a contract, so it is:
a) Valid
b) Void
c) Voidable
d) Ratified

Missing one of the elements makes it:
a) Valid
b) Void
c) Voidable
d) Ratified

Genuine Agreement is also genuine:
a) Assent
b) Acceptance
c) Approval
d) Aptitude

Mirror image rule means:
a) It is the exact opposite of what I see
b) It is close to what I see but slightly different
c) It is the same as what I see
d) It means I look good in the mirror

We also discussed ratification when discussing the:
a) Magna Carta
b) Articles of Confederation
c) Constitution
d) Declaration of Independence

Voidable means how many can get out of the contract
a) All the parties
b) At least 1 of the parties
c) None of the parties
d) 3 of the parties

If it is valid, it is legal and ____:
a) accepted
b) approved
c) ratified
d) binding

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