1. There are three kinds of contracts:

1. void, voidable, non void
2. written, oral, implied
3. private, public, international
4. profit, non-profit, transactional

2. There doesnt need to be a mutual exchange of interests for a contract to exist.

1. _____T b. ______F

3. If the wording in a contract is ambiguous:

1. its read in favour of the person who drafted it
2. its read in favour of the person who did not draft it
3. the Judge will ignore the wording
4. the Judge will using various interpretations at their discretion

4. Damages in a breach of contract must be quantified.

a. _______T b. ______F

5. Contracts are always binding so be careful what you sign.

a.______T b. _____F