Which of the following is NOT considered an advantage of a partnership?

• A. partners have unlimited liability for the business
• B. avoids certain special taxes
• C. increased financial resources
• D. larger knowledge base involved in running the business

Match each of the following contract principles to the statement that best fits it:

A. both parties to the contract agree on the contract terms

B. bargained-for exchange of value to the parties

C. parties' negotiated understanding of terms and intent that lead to the contract

D. the subject matter of the contract does not violate law or public policy

select A B C D 1. Consideration

select A B C D 2. Mutual acceptance

select A B C D 3. Legality

select A B C D 4. Agreement

Match each of the following breach of contract remedies with the phrase that fits it best.

A. order for breaching party to execute or complete certain duties under the contract

B. both parties to contract relieved of contract obligations

C. court orders one or more of the parties to refrain from taking an action under the contract

D. contract revised to reflect true intent

select A B C D1. Rescission

select A B C D2. Specific performance

select A B C D3. Reformation

select A B C D4. Injunction

Match the following contract principles to their best definition

A. unreasonable, unfair, or does not meet standards for what is regarded as appropriate. Example: usurious interest rates exceeding the limits of the law

B. when an individual is unwilling to enter into a contract and is coerced to do so by threats or other action intended to overcome the individual's unwillingness. Example: blackmail, threat of physical harm to the person or a loved one

C. deceitful practice or willful act pf of misrepresentation, with intent to deprive another of his right, or in some manner to do him an injury. Example: rolling back a car's odometer

D. act, influence or force that effectively destroys another person's will to do what he would have otherwise chosen to do. Example: preying on a person's emotion, beliefs, or physical or mental frailty

select A B C D1. fraud

select A B C D2. undue influence

select A B C D3. unconscionability

select A B C D4. duress