Paralegal Essentials – Contract Law (Quiz 1)

What did you learn about Contract Law so far?  The answers to the quiz will be posted tomorrow.  Try to answer without looking at the earlier posts.  Peak if you must!

1.  What are the 4 requirements for a binding promise or agreement?

2.  What is another way of expressing the idea of “mutual assent”?

3.  What types of people lack capacity to contract?

4.  _________________ or __________________ must exist for consideration to be legally significant.

5.  A contract capable of being made void by one of the parties.  ___________________

6.  A promise for an act or forbearance to act is a(n) ________________________ contract.

7.  A contract that is  fully performed by all the parties is an executed/executory.  (circle the correct term)

8.  Give two examples of conduct that invalidates assent.

9.  ______________________ is taking unfair advantage of a person by reason of a dominant position based upon a confidential relationship.

10.  What are the 5 elements of fraud?

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