Contract Law and Torts

What is Contract Law?

• A) A body of law governing verbal and written agreements

• B) A set of rules for criminal cases

• C) Guidelines for international trade

• D) Regulations for environmental protection.

Which of the following is NOT a common business contract?

• Franchise agreements

• Real estate leases

• Equipment contracts

• Criminal agreements

Verbal/Oral Contracts are just as enforceable as ______ contracts.

• written

• verbal

• implied

• temporary

What occurs when one party does not fulfill their contractual obligations?

• Breaching a Contract

• Signing a Contract

• Renewing a Contract

• Terminating a Contract

Tort is a civil or private wrong against ______.

• an individual or business

• the government

• international law

• environmental law

Which of the following is NOT a basic tort?

• A) Intentional

• B) Negligence

• C) Strict liability

• D) Criminal

Intentional Torts involve a defendant purposely performing an action to ______.

• cause harm

• gain profit

• avoid taxes

• improve health

Examples of intentional torts include: A) Fraud and misrepresentation B) Theft and burglary C) Speeding and parking violations D) Tax evasion.

• A) Fraud and misrepresentation

• B) Theft and burglary

• C) Speeding and parking violations

• D) Tax evasion

Negligence Torts involve the failure of an individual to use ______.

• ordinary care

• extraordinary measures

• legal advice

• financial resources

Strict Liability Torts involve a defendant being held liable for a plaintiff’s damages without ______.

• a requirement or proof

• a lawyer

• a contract

• a witness