WorksheetsLaw Studies (Ch. 23-26)
Total questions: 20
Worksheet time: 20mins
A contract between two parties for illegal activities is not valid.
True
False
Which of the following is a contract?
Betty offers to give a book to Lou. Lou accepts.
Betty offers Lou the book in exchange for Lou’s promise to pay twenty-five dollars. Lou accepts.
Betty offers to give Lou the book if Lou promises to pick it up at Betty’s house. Lou agrees.
None of the above
A written or oral agreement between 2 parties.
Memo
Invoice
Contract
Requisition
What is the first element of a contract?
Consideration
Acceptance
Capacity
Offer
A verbal agreement made out loud during conversation. Most difficult type of contract to enforce.
Oral
Implied
Express
Analytical
In this type of contract, the details are assumed.
Oral
Written
Implied
Express
When one or both parties fail to perform their duties in the contract.
Implied
Breach
Implied
Requisition
The amount established by the card issuer as the maximum amount you may borrow to pay for purchases or cash advances. Based on your creditworthiness.
Credit Limit
Over-limit
Balance
Maximum Balance
What is debt?
Another word for death
Something, typically money, that is owed or due
A loan on which you do not have to pay interest
That which is incurred during childhood and consummated in college
What is an interest rate?
it is your level of interest about a certain topic expressed as a percentage of your total interest
The amount in terms of dollars that you have to pay back on a purchase
it is the rate at which your interest in something expires. The higher the number, the quicker your interest expires
The amount in terms of a rate or percentage that you have to pay back on an amount borrowed
a repayment of a sum of money to someone who has returned a product
rebate
refund
discount
deal
