Law 2 S2 Final

Law 2 S2 Final

9th - 12th Grade

60 Qs

quiz-placeholder

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Law 2 S2 Final

Law 2 S2 Final

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

John Verbich

Used 3+ times

FREE Resource

60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must a valid contract include?

A notary

Written agreement

Offer, acceptance, and consideration

Court approval

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a tort?

Signing a contract

Getting married

Causing harm due to negligence

Missing a credit card payment

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Truth in Lending Act requires lenders to:

Offer lower interest rates

Use only paper contracts

Disclose loan terms clearly

Remove late fees

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does APR stand for?

Average Payment Rate

Annual Percentage Rate

Account Payment Ratio

Automatic Payment Rule

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cosigner is someone who:

Writes the loan contract

Collects the loan payments

Guarantees loan repayment if the borrower fails

Investigates credit scores

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following actions is most likely a breach of contract?

Refusing to pay after receiving services

Forgetting a friend’s birthday

Losing a receipt

Asking for a refund

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do contracts include consideration?

To show the parties like each other

To ensure there is something of value exchanged

To allow for refunds

To make the contract sound formal

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