Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is a contract?
What is a contract?
- A non-binding agreement between parties
- An agreement specifying legally enforceable rights and obligations between parties (correct)
- A verbal agreement between friends
- An informal understanding between colleagues
In case of a breach of contract, what remedies can the injured party seek?
In case of a breach of contract, what remedies can the injured party seek?
- Monetary compensation only
- No remedies available
- Damages or equitable remedies such as specific performance or rescission (correct)
- Verbal apology from the breaching party
What is a binding agreement between actors in international law known as?
What is a binding agreement between actors in international law known as?
- International contract
- Treaty (correct)
- Global pact
- Worldwide agreement
In which jurisdictions are contracts typically required to include consideration to be valid?
In which jurisdictions are contracts typically required to include consideration to be valid?
Signup and view all the answers
What principle is contract law based on?
What principle is contract law based on?
Signup and view all the answers
What does a contract typically involve?
What does a contract typically involve?
Signup and view all the answers
What judicial remedies can the injured party seek in the event of a breach of contract?
What judicial remedies can the injured party seek in the event of a breach of contract?
Signup and view all the answers
What is a binding agreement between actors in international law known as?
What is a binding agreement between actors in international law known as?
Signup and view all the answers
What principle is contract law based on?
What principle is contract law based on?
Signup and view all the answers
In which jurisdictions are contracts typically required to include consideration to be valid?
In which jurisdictions are contracts typically required to include consideration to be valid?
Signup and view all the answers
Flashcards are hidden until you start studying
