LSB Chapter 6 All Answers Correct - The Code of Hammurabi is a _______ legal code that dates back to 1754 BC, primarily addressing
contract law.
️Babylonian - Absent evidence of _______, _______, oppression, or _______, courts generally do not interfere with
the contracting process. (Choo...
- The Code of Hammurabi is a _______ legal code that dates back to 1754 BC, primarily addressing
contract law.
✔️Babylonian
- Absent evidence of _______, _______, oppression, or _______, courts generally do not interfere with
the contracting process. (Choose three correct answers)
✔️mistake
✔️lack of legal purpose
✔️fraud
- A valid contract must have the following basic elements: _______, _______, ______, and ______.
(Choose four correct answers)
✔️consideration
✔️mutual assent
✔️legality
✔️capacity
- A valid offer and acceptance typically demonstrate _______.
✔️mutual assent
- _______ requires both parties to obtain something of value (legal benefit) and to give up something of
value (legal detriment).
✔️Consideration
- A contract is a legally _______ promise or set of promises.
✔️enforceable
, - _______ of purpose indicates that each contract must satisfy a legal purpose to be enforceable.
✔️Legality
- ________ in the United States permits individuals to enforce contracts that are freely made and
signed.
✔️Freedom of contract
- All parties to a contract must have legal _______ to enter into the contract, or it may become voidable.
✔️capacity
- A valid contract must include the following basic elements: _______, _______, ______, and ______.
(Choose four correct answers)
✔️mutual assent
✔️legality
✔️capacity
✔️consideration
- Tim and Joe, both 22, make promises to each other about a loan for a car. If the agreement fulfills all
necessary elements, it will be categorized as a(n) ______ contract. (Choose all correct answers)
✔️enforceable
✔️valid
- _______ is shown when the parties to a contract express, through words or actions, that they willingly
agree to enter into the contract.
✔️Mutual assent
- Jan and Carol agree to rob a bank and split the stolen money. The agreement is ______ from the
outset.
✔️void
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