Contract Knowledge Challenge
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Questions and Answers

Which of the following is NOT a characteristic of a contract?

  • It may involve the transfer of money
  • It can only be entered into by two parties (correct)
  • It involves the transfer of goods or services
  • It is a legally enforceable agreement

    • What is the term used to describe the activities and intentions of the parties entering into a contract?

  • Agreement
  • Binding
  • Transacting
  • Contracting (correct)

    • In the event of a breach of contract, what remedies may the injured party seek?

  • Rescission
  • Compensation (correct)
  • Mediation
  • Apology

    • What is a binding agreement between actors in international law called?

    <p>Treaty</p> Signup and view all the answers

    Which legal jurisdictions can govern contract law?

    <p>All of the above</p> Signup and view all the answers

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