Contracts

Front

James and Mia are starting a new business together. They decide to formalize their partnership with a written or oral agreement. What is this agreement called?

Back

Contract

Front

When Benjamin decides to sell his bicycle, what is the first element needed to form a contract with a buyer?

Back

Offer

Front

Sophia and Hannah are entering into a business agreement. Which of the following is NOT an element of their contract? Company Logo, Legal Purpose, Offer, Consideration

Back

Company Logo

Front

When Olivia purchased a new laptop, she received a document detailing the transaction. This document is an example of this type of contract.

Back

Written

Front

Mason and Grace are starting a business together. They decide to draft a written contract that clearly states the subject and includes all necessary details to ensure it is enforceable by law. What type of contract are they creating?

Back

Express

Front

What type of agreement is often the most difficult to enforce when discussed verbally?

Back

Oral

Front

What type of contract does the scenario represent where Grace and Arjun understand what needs to be done based on their past collaborations? Options: Oral, Written, Implied, Express

Back

Implied

Front

If Emma and Ethan fail to perform their duties in a contract, what is this situation called?

Back

Breach

Front

Mason and Daniel agreed orally on a business deal. The oral contract will be easier to enforce if...

Back

it is recorded, there is a witness, there are multiple witnesses

Front

Grace and Michael are entering into a business agreement. What is required for their contract to be considered legally binding?

Back

Mutual consent