Gbl 385 exam 2 contracts - Study guides, Class notes & Summaries
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GBL 385 exam 2 – contracts Questions and Answers
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GBL 385 Exam 2 Prep 2024/2025. 86 Questions and Correct Answers, With Verified Solutions 100%.
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GBL 385 Exam 2 Prep 2024/2025. 86 Questions and Correct Answers, With Verified Solutions 100%. 
Contract 
legally enforceable exchange of promises or an exchange of promise for an act 
Common Law 
governs contracts dealing with real property, personal property, services, and employment contracts
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GBL 385 exam 2 – contracts with Answers
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criminal law - statutory 
 
civil law - statutory and case made 
 
types of legal liability - (1) STATUTORY LIABILITY 
 
(2) *CONTRACT LIABILITY* 
 
(3) TORT LIABILITY 
 
what is a contract - A contract Is a Legally Enforceable Agreement (offer and Acceptance) Voluntarily Entered Into between two (or more) Competent Parties, to Do or Not to Do something that is Possible to Be Done, that is Not Unlawful, and that is supported by Consideration. 
 
contract requires - A validly formed contract must...
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GBL 385 Exam #2 Study Guide with Complete Solutions
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GBL 385 Exam #2 Study Guide with 
Complete Solutions 
REVIEW OF THE TYPES OF 
LEGAL LIABILITY - Answer️️ -(1) STATUTORY LIABILITY 
(2) CONTRACT LIABILITY 
(3) TORT LIABILITY 
What is a Contract? - Answer️️ -A contract Is a Legally Enforceable Agreement (offer 
and Acceptance) Voluntarily Entered Into between two (or more) Competent Parties, to 
Do or Not to Do something that is Possible to Be Done, that is Not Unlawful, and that is 
supported by Consideration. 
A valid contract must... -...
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GBL 385-Exam 2 Professor Behan MSU Study Guide with Complete Solutions
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GBL 385-Exam 2 Professor Behan MSU 
Study Guide with Complete Solutions 
Contract - Answer️️ --A contract Is a Legally Enforceable Agreement (offer and 
Acceptance) 
-Voluntarily Entered Into between two (or more) Competent Parties, to Do or Not to Do 
something that is Possible to Be Done, that is Not Unlawful, and that is supported by 
Consideration. 
Employment Contracts - Answer️️ -presumption of the employment contract is that it is 
for an indefinite period of time and is considere...
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GBL 385 exam 2 - contracts; Questions & Answer 100% Solved
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GBL 385 exam 2 - contracts; Questions & 
Answer 100% Solved 
criminal law Correct answer-statutory 
civil law Correct answer-statutory and case made 
types of legal liability Correct answer-(1) STATUTORY LIABILITY 
(2) *CONTRACT LIABILITY* 
(3) TORT LIABILITY 
what is a contract Correct answer-A contract Is a Legally Enforceable 
Agreement (offer and Acceptance) Voluntarily Entered Into between two (or 
more) Competent Parties, to Do or Not to Do something that is Possible to Be 
Done, that ...
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Gbl 385 Exam 2 (Behan) Study Guide with Complete Solutions
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Gbl 385 Exam 2 (Behan) Study Guide 
with Complete Solutions 
Contract Elements - Answer️️ -A contract is a legally enforceable agreement (offer and 
acceptance). Voluntarily entered between 2 or more competent parties to do or not to 
do something that is possible to be done, that is not unlawful and that is supported by 
consideration. 
Express Contract - Answer️️ -A contract in which the terms of the agreement are 
stated in words, oral or written. 
Implied Contract - Answer️️ -a c...
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GBL 385 Exam #2 Exam Questions With Correct Answers
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GBL 385 Exam #2 Exam Questions With 
Correct Answers 
REVIEW OF THE TYPES OF 
LEGAL LIABILITY - answer(1) STATUTORY LIABILITY 
(2) CONTRACT LIABILITY 
(3) TORT LIABILITY 
What is a Contract? - answerA contract Is a Legally Enforceable Agreement (offer and 
Acceptance) Voluntarily Entered Into between two (or more) Competent Parties, to Do or Not to 
Do something that is Possible to Be Done, that is Not Unlawful, and that is supported by 
Consideration. 
A valid contract must... - answerA validly...
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MSU GBL 385-EXAM 1 BEHAN STUDY GUIDE WITH COMPLETE SOLUTIONS
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MSU GBL 385-EXAM 1 BEHAN STUDY 
GUIDE WITH COMPLETE SOLUTIONS 
Objectives of law - Answer️️ -law exists to influence behavior 
Hammurabi--in one of the oldest law codes known to man opined that "law exists to 
protect the weak from the strong" 
As a society we criminalize behavior that we wish not to tolerate and in that way we 
seek to deter or influence certain behavior; we do the same with civil law. 
statutory law - Answer️️ -Our legal representatives pass laws (both civil and crim...
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GBL 385 Exam 2 – Contracts Questions With Correct Answers
- Exam (elaborations) • 12 pages • 2024
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GBL 385 Exam 2 – Contracts Questions With 
Correct Answers 
Criminal law - answerstatutory 
civil law - answerstatutory and case made 
types of legal liability - answer(1) STATUTORY LIABILITY 
(2) *CONTRACT LIABILITY* 
(3) TORT LIABILITY 
what is a contract - answerA contract Is a Legally Enforceable Agreement (offer and 
Acceptance) Voluntarily Entered Into between two (or more) Competent Parties, to Do or Not to 
Do something that is Possible to Be Done, that is Not Unlawful, and that is sup...
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