4B POB Mini Quiz on Intro to Contracts

Being in a business is not a simple matter.

• True 

• False 

The following are purposes of laws that aim to protect and control businesses EXCEPT: 

• To ensure there is free competition between businesses

• To give preference to the bigger businesses. 

• To protect consumers

• To maintain a good level of safety and secure ethical working conditions

People are completely aware of being involved in a contractual relationship.

• True

• False 

Riding James Bus line to Belmopan is a NOT a form of a Simple Contract.

• True

• False 

The following are characteristics of a contract EXCEPT:

• Criminal Related

• Legality

• Capacity

• Consideration

• Good faith

A legally enforceable binding agreement between two or more parties whereby something is done, or promised to be done, given or be given.