Legal Environment/Government and the Economy Vocabulary Review

Legal Environment/Government and the Economy Vocabulary Review

Assessment

Flashcard

Other

7th - 8th Grade

Hard

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13 questions

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1.

FLASHCARD QUESTION

Front

Legally binding agreement between two or more people or businesses

Back

contract

2.

FLASHCARD QUESTION

Front

element of a contract that is a proposal to provide a good or service.

Back

offer

3.

FLASHCARD QUESTION

Front

Element of a contract stating that all parties involved must agree to the terms of the contract.

Back

acceptance

4.

FLASHCARD QUESTION

Front

Element of a contract stating that something of value must be promised in return.

Back

consideration

5.

FLASHCARD QUESTION

Front

A person is legally able to enter into a binding agreement.

Back

capacity

6.

FLASHCARD QUESTION

Front

Regulates how contracts are written, executed, and enforced.

Back

contract law

7.

FLASHCARD QUESTION

Front

When one or more parties do not follow the agreed terms of a contract without having a legitimate reason.

Back

breach of contract

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