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Chapter 3: Business Law and Ethics Vocabulary

Authored by Nicolas Hernandez

Business

8th - 12th Grade

26 Questions

Used 188+ times

Chapter 3: Business Law and Ethics Vocabulary
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A legally binding agreement between two or more people or businesses

offer

contract

agreement document

purchase terms

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A proposal to provide a good or service

offer

contract

agreement document

purchase terms

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All parties involved must agree to the terms of the contract

lease

contract

acceptance

purchase terms

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something of value must be promised in return

cash

payment agreement

consideration

purchase terms

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person is legally able to enter into a binding agreement

lawyer

capacity

college graduate

high school graduate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Regulates how contracts are written, executed, and enforced

lawyer

agreement in principle

consideration

contract law

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

breach of contract

contract code violation

bad faith

broken contract law

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