Contract Law Quiz

An informal understanding between individuals

An agreement specifying legally enforceable rights and obligations between two or more parties (correct)

A verbal agreement without legal implications

A one-sided commitment without mutual agreement

Extrajudicial retaliation

Judicial remedies such as damages or rescission (correct)

Verbal warning to the breaching party

Public humiliation of the breaching party

Treaty (correct)

Worldwide understanding

International deal

Global contract

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