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Questions and Answers
Which one of these is a common flaw with contracts?
Which one of these is a common flaw with contracts?
- Contracts are open to interpretation (correct)
- Contracts are only used for record keeping
- Contracts are not legally binding
- Contracts are too complicated to understand
What is the definition of a contract?
What is the definition of a contract?
- A promise to do something or to refrain from doing something (correct)
- A written note that states the terms of the contract
- A legal practice used for record keeping
- A verbal agreement between two parties
What is the purpose of contracts?
What is the purpose of contracts?
- To set rules and boundaries
- To prove legality
- To secure your end of a deal or transaction
- All of the above (correct)
What is a smart contract?
What is a smart contract?
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Why are contracts used in various institutions?
Why are contracts used in various institutions?
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