Types of contracts
Authored by Svitlana Mykytiuk
English
University
Used 11+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a contract?
A legally binding agreement between two or more parties
A verbal argument between two parties
A written agreement between two parties
A disagreement between two parties
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main difference between an oral contract and a written contract?
An oral contract is spoken, while a written contract is recorded in writing
An oral contract is legally binding, while a written contract is not
An oral contract is not legally binding, while a written contract is
An oral contract is recorded in writing, while a written contract is spoken
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a bilateral contract?
A contract in which both parties make promises to each other
A contract in which only one party makes a promise
A contract that is not legally binding
A contract that is not recorded in writing
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a quasi contract?
A contract that is not recorded in writing
A court-created legal agreement between two parties who did not have a previous obligation to each other.
A contract in which both parties make promises to each other
A contract that is not legally binding
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a voidable contract?
A contract that has been fully performed by both parties
A contract that is not legally binding and has no effect
A contract in which the terms are clearly stated
A contract that is legally binding but can be avoided by one or both parties
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an executed contract?
A contract that is legally binding but can be avoided by one or both parties
A contract in which the terms are clearly stated
A contract that is not legally binding and has no effect
A contract that has been fully performed by both parties
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an express contract?
A contract that is not recorded in writing
A contract that is legally binding but can be avoided by one or both parties
A contract in which the terms are clearly stated
A contract that has been fully performed by both parties
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