Blaw 201 (BLAW201)
Drexel University
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Business Law 201 Sher Exam 1 Correct Answers Latest Update 2024
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Voidable Contract - correct answers contract starts out being valid, then some rule of law makes one or both of the parties able to get out of the contract. 
 
Void Contract - correct answers means it is simply not a contract - a "Null" - a contradiction in terms -> "void contracts" because it's not a contract. Illegal contracts are void contracts. 
 
Unenforceable Contracts - correct answers contract starts out valid, but a rule of law makes it not able to be enforced in court. Incapabl...
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Blaw 201 Drexel Midterm Correct Answers Latest Update 2024
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BILATERAL CONTRACT - correct answers agreement under which one promise is given in exchange for another 
 
CONTRACT - correct answers a binding agreement based on the genuine assert of the parties made for a lawful object, between competent parties in the form required by law, and generally supported by consideration 
 
CONTRACT UNDER SEAL - correct answers contract executed by affixing a seal or making an impression on the paper or on some adhering substance such as wax attached to the document...
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Business Law 201 Exam 1 Correct Answers Latest Update 2024
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The reasonable man theory - correct answers what should a reasonable person do? 
 
Plaintiff - correct answers person who sues 
 
Defendant - correct answers defending the crime 
 
negligence - correct answers lack of ordinary care under the circumstances 
 
Adjectives modifying a contract - correct answers Valid, Voidable, Void, Unenforceable 
 
Valid - correct answers when everything in a contract is there 
 
Voidable - correct answers some rule or law that allows parties to get out or dissafi...
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BLAW 201 Correct Answers Latest Update 2024
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Executed Contract - correct answers Contract that has been fully performed by both parties 
 
Executory Contract - correct answers Either party still has something to do to complete the contract 
 
Valid - correct answers Contract which is binding and enforceable 
 
Voidable - correct answers Contract is able to be cancelled under certain circumstances by law 
 
Void - correct answers Agreement that was never enforceable from the beginning (ex. party was legally mentally incapacitated) 
 
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Business law chapter 15 lecture notes
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Assignment Answers
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These are answers to one of the graded class assignments
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Class Notes
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These are class powerpoints from the professor directly.
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Business Law
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These are homework assignments and notes from the professor directly.
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