What must a valid contract include?
Law 2 S2 Final

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
John Verbich
Used 3+ times
FREE Resource
60 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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