Question
Question 1(15 points) Instruction:Match each of the numbered definitions with the correct term in the following list. A person who is of legal age and
Question 1(15 points)
Instruction:Match each of the numbered definitions with the correct term in the following list.
A person who is of legal age and normal mentality.
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A requirement for contracts for the sale of goods for $500 or more.
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A contract that is understood from the acts or conduct of the parties.
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The promises exchanged by parties to a contract.
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A contract with several unrelated parts, each of which can stand alone.
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A contract that lacks an essential element and hence was never legally a contract.
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A written contract that bears a seal.
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A contract whose meaning is not determined by the conduct of the parties.
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A "meeting of the minds" regarding the rights and obligations of the parties to a contract.
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A contract with several related parts, each dependent on the other parts for satisfactory performance.
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A contract that allows the incompetent party to withdraw.
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A contract that has not yet been completed by both parties.
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A contract that is created entirely through conversation of the parties involved.
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A contract that has been fully completed by both parties.
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The requirement that a contract cannot violate the law.
1.competent party
2.consideration
3.divisible contract
4.entire, or indivisible, contract
5.executed contract
6.executory contract
7.express contract
8.formal contract
9.implied contract
10.legality of purpose
11.mutual agreement
12.oral contract
13.proper form
14.voidable contract
15.void contract
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Company Law
Authors: Brenda Hannigan
6th Edition
0198848498, 978-0198848493
