ME Unit 4 Lesson 1 Contract Principles

A low-level employee is not qualified to sign any business contracts. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

Frank sent Francine a contract, and Francine counteroffered. Negotiations were made until they both agreed. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

XYZ Corporation offered a contract to another business that involves exchanging laundered money (money that was obtained illegally). Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

Joe sent Jane a contract. Jane agreed to the terms and signed the contract. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

Jack offered Jill to trade his GI Joe action figure for her Hulk action figure. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

Billy is only 6 years old. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

Sally paid Walmart $15, and Walmart sent her the dress she ordered. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose

ABC Auto Parts' contract to pay their supplier is invalid because the supplier gave them stolen car parts. Which contract principle does this apply to?

• Legal Capacity

• Offer & Acceptance

• Exchange of Value

• Legal Purpose