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Legal Aspect Of Business Contracts

10 Questions  I  By Samuelsj2
LEGAL ASPECT OF BUSINESS CONTRACTS
PRINCIPLES OF BUSINESS
End of chapter  quiz on legal aspect of business contracts.

  
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1.  A contract may be defined as:
A.
B.
C.
D.
2.  What will be the legal consequences of an infant fraudulently obtaining money from a firm which he does not repay?
A.
B.
C.
D.
3.  David bought a plot of land from Tom for $20,000.  Tom had threatened to expose a past misdeed ofDavid's if he did not purchase the land.  The contract is void because:
A.
B.
C.
D.
4.  John offers to sell Henry a plot of land for $50,000.  Henry writes to John saying he is willing to purchase the land for $40,000.  Henry's offer is:
A.
B.
C.
D.
5.  A supermarket advertises goods for sale, this is:
A.
B.
C.
D.
6.  A specialty contract must be signed, delivered and ------------------
7.  An simple contract can be oral, written or  ----------------------
8.  This term refers to termination of contract where a reasonable period of time has passed:
9.  The replacement of one contract for another is referred to as:
10.  A hire purchase is a -----------------------  contract.
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