Mastering Smart Contracts
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Questions and Answers

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?

  • 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?

  • 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?

    <p>A contract that uses advanced technology</p> Signup and view all the answers

    Why are contracts used in various institutions?

    <p>All of the above</p> Signup and view all the answers

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