24/25 Business Law Mid Term

Front

What is a legally enforceable agreement between two or more parties called?

Back

Contract

Front

Which term refers to a civil wrong that causes harm or loss to another person?

Back

Tort

Front

What is the failure to take proper care in doing something, resulting in damage or injury to another?

Back

Negligence

Front

Which document helps protect your assets and avoid probate?

Back

TRUST

Front

Which document lists the finally wishes of someone after they transition, and requires probate? Options: Healthcare Power of Attorney, General Power of Attorney, Trust, Living Will

Back

Living Will

Front

What is the first element of a contract?

Back

Offer

Front

In order to enter into a contract, how old do you have to be for it to be enforceable in court?

Back

18

Front

A sum of money given for designated period of time which must be repaid

Back

Loan

Front

House payment

Back

Mortgage

Front

A percentage (%) of a borrowed sum of money which must be paid in addition to the repayment of the loan itself

Back

Interest