5 Questions
What are the three elements of a lottery according to the text?
Prize, chance, consideration
What is the definition of usury according to the text?
Lending money at a rate higher than the state’s maximum allowable rate
Which of the following is an example of obstructing legal procedures?
Paying non-expert witnesses in a trial to testify
What is the legal rate of interest according to the text?
Rate specified by the state statute
What is a competency license according to the text?
State requirement for people in certain occupations and businesses to pass exams
Test your knowledge of legal contracts and agreements with this quiz on the legal purpose and proper form. Learn about illegal agreements such as lotteries and usurious interest, and understand the elements that make them unlawful.
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