5.1 BLAW- Contracts

Front

An oral contract is not enforceable by law.

Back

False

Front

A valid contract must contain at least four of the six elements of a contract.

Back

False

Answer explanation

It must contain all 6 elements.

Front

Consideration is the legal ability to enter a contract.

Back

False

Answer explanation

Capacity is the legal ability to enter a contract.

Front

A contract that amounts to nothing and has no legal effect is

Back

void

Front

A contract that contains a promise by both parties is

Back

bilateral

Front

If a valid offer is met with a valid acceptance, the result is

Back

genuine agreement

Front

Any agreement enforceable at law is a(n) ____________________.

Back

contract

Front

People sometimes enter into ____________________ contracts without exchanging a word.

Back

implied

Front

A contract is ____________________ if the court cannot uphold it because of some rule of law.

Back

unenforceable

Front

A contract is ____________________ if it can be canceled by one of the parties.

Back

voidable