Legal and Contractual Questions

What is a contract?

• A legal agreement between parties

• A type of business document

• A form of communication

• A financial transaction

What are some likely contracts I may soon be part of?

What are some of the advantages of written contracts?

• They provide clear terms and conditions.

• They are always legally binding.

• They eliminate all disputes.

• They are easy to modify.

Some of the disadvantages of written contracts are:

• They are time-consuming to draft and review.

• They provide clear terms and conditions.

• They ensure legal enforceability.

• They facilitate better understanding between parties.

What are some general rules to follow when I am asked to sign a contract?

• Read the entire contract carefully before signing.

• Sign the contract immediately without reading.

• Ignore the terms and conditions.

• Rely solely on verbal agreements.

What can happen if I do not do what I agreed to do in the contract (i.e., miss payments or other obligations)?

• You may face legal consequences.

• Nothing will happen.

• The contract will be voided.

• You will receive a reward.

A judgment creditor is a person or entity that has won a judgment against a debtor in court. How can they collect on their judgment?

• By garnishing the debtor's wages

• By seizing the debtor's property

• By placing a lien on the debtor's assets

• All of the above

Are there time limits for starting a lawsuit or being sued in Wisconsin?

• Yes, there are time limits.

• No, there are no time limits.

• It depends on the type of case.

• Only for criminal cases.

A landlord/property owner’s rights in an apartment include:

• The right to enter the apartment without notice

• The right to collect rent and enforce lease terms

• The right to evict tenants without cause

• The right to change the locks without tenant's consent

A tenant’s rights in an apartment include:

• The right to a safe and habitable living environment

• The right to own the apartment

• The right to change the apartment structure without permission

• The right to evict other tenants