Contract Law Midterm Exam Review Quiz
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Questions and Answers

Which of the following is an example of an invalid contract?

  • A contract specifying illegal activity (correct)
  • An oral contract outlined and agreed to via spoken communication
  • A contract with restrictions as to the competency of parties
  • A written contract between two parties

    • Which situation would result in an illegal contract?

  • A contract with a drunken person (correct)
  • A written contract between a lender and a borrower
  • An oral contract agreed to via spoken communication
  • A contract between two competent parties

    • What is the form of an oral contract?

  • An agreement outlined and agreed to via spoken communication (correct)
  • A contract with restrictions as to the competency of parties
  • A contract specifying illegal activity
  • A printed agreement between two parties

    • Which party lacks legal capacity to enter into a contract?

    <p>Persons of unsound mind</p> Signup and view all the answers

    What is a written contract?

    <p>A printed agreement between two parties</p> Signup and view all the answers

    Which situation would result in an illegal contract?

    <p>A contract specifying an illegal activity</p> Signup and view all the answers

    Who lacks legal capacity to enter into a contract?

    <p>Persons of unsound mind</p> Signup and view all the answers

    What is the form of a written contract?

    <p>A printed agreement between two parties</p> Signup and view all the answers

    Which party lacks legal capacity to enter into a contract?

    <p>Persons of unsound mind</p> Signup and view all the answers

    What is an oral contract?

    <p>A type of business contract outlined and agreed to via spoken communication</p> Signup and view all the answers

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