Contract Law Fundamentals Quiz

A legally binding agreement enforceable by law (correct)

An arrangement between parties without mutual understanding

A commitment that is not legally binding

An understanding between parties without legal enforceability

Offer and Acceptance, Legal Intent, Lawful Consideration, Capacity to Contract, Free Will

Offer and Acceptance, Intention to Create Legal Relations, Lawful Consideration, Capacity to Contract, Free Consent (correct)

Offer and Acceptance, Legal Binding, Consideration, Capacity to Contract, Mutual Agreement

Offer and Acceptance, Meeting of Minds, Intention to Create Legal Relations, Consideration, Mutual Understanding

Meeting of minds

Mutual understanding

Exchange of something of value

Legal enforceability (correct)

<p>Something of value given in exchange for a promise</p> Signup and view all the answers

<p>Free consent without duress, undue influence, misrepresentation, mistake, or fraud</p> Signup and view all the answers