Chapter 6 Lesson 3: Contractual Agreements

Chapter 6 Lesson 3: Contractual Agreements

10th Grade

10 Qs

quiz-placeholder

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Chapter 6 Lesson 3: Contractual Agreements

Chapter 6 Lesson 3: Contractual Agreements

Assessment

Quiz

Business

10th Grade

Practice Problem

Medium

Created by

Steve Wills

Used 1+ times

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10 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is a contract in business?

Evaluate responses using AI:

OFF

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

List the purposes of a contract as mentioned in the text.

To outline the terms of an agreement

To provide legal protection

To establish responsibilities

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the elements included in a true legally binding contract?

Offer, Acceptance, Consideration, and Legal Capacity

Offer, Acceptance, and Mutual Consent

Consideration, Legal Capacity, and Written Agreement

Mutual Consent, Written Agreement, and Legal Purpose

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for someone to be a competent party in a contract?

Legal age and sound mind

Financial stability

Employment status

Educational qualification

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A contract should include certain elements to address legal consequences. Which of the following is essential?

Parties' obligations and rights

The color of the paper

The font style used

The number of pages

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of contract used in business operations?

Sales Contracts

Employment Contracts

Lease Contracts

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: A lease contract equates to ownership of a property.

True

False

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