Legal Contracts and Agreements Quiz
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Questions and Answers

What are the three elements of a lottery according to the text?

  • Prize, chance, consideration (correct)
  • Prize, certainty, consideration
  • Prize, skill, consideration
  • Prize, luck, consideration

    • What is the definition of usury according to the text?

  • Lending money at a rate lower than the state’s maximum allowable rate
  • Lending money at a fixed rate
  • Lending money without interest
  • Lending money at a rate higher than the state’s maximum allowable rate (correct)

    • Which of the following is an example of obstructing legal procedures?

  • Paying court fees on behalf of the defendant
  • Paying expert witnesses in a trial to testify
  • Compensating legal advisors for their services
  • Paying non-expert witnesses in a trial to testify (correct)

    • What is the legal rate of interest according to the text?

    <p>Rate specified by the state statute</p> Signup and view all the answers

    What is a competency license according to the text?

    <p>State requirement for people in certain occupations and businesses to pass exams</p> Signup and view all the answers

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