PBMF Ch 3 Review

What is another name for a legally binding agreement between 2 or more parties?

• lease

• offer

• contract

• acceptance

This is a proposal to provide a good or a service.

• lease

• offer

• contract

• acceptance

When all parties agree to the terms of a contract this is called _.

• lease

• offer

• contract

• acceptance

This is a contract to rent something.

• lease

• offer

• contract

• acceptance

What is something of value that is promised in return for a good or a service?

• lease

• consideration

• contract

• capability

When a persons is legally able to enter into a binding agreement, this is called _.

• lease

• consideration

• contract

• capability

This includes basic expectations of fair treatment of consumers.

• lease

• consideration

• Consumer Bill of Rights

• capability

Which of these is NOT an expectation of the consumer bill of rights?

• the right to be heard

• the right to safety

• the right to a warranty

• the right to be informed

Which of these is NOT an expectation of the consumer bill of rights?

• the right to be heard

• the right to free shipping

• the right to a healthy environment

• the right to be informed

Which of these is NOT a required element of a legal contract?

• offer

• warranty

• consideration

• intention of legal consequences

• acceptance