CBAD 344 TEST 3 EXAM QUESTIONS AND ANSWERS GRADED A+ 2025/2026

CBAD 344 TEST 3 EXAM QUESTIONS
AND ANSWERS GRADED A+ 2025/2026




Contracts - ANS an agreement between or among two or more parties which is enforceable
in court; each party is obligated to do something or refrain from doing something now or in the
future


Basic requirements of a contract - ANS agreement, consideration, capacity (age & mental
condition), legality, genuine assent, form


Agreement - ANS one party offers to enter into a legal obligation and the other party accepts
those terms (offer and acceptance = agreement)


Consideration - ANS Each party is obligated to do something of value for the other party


Capacity - ANS Age- 18 years old with some exceptions
Mental condition- someone with a mental disability may not be able to enter a valid contract


Legality - ANS An agreement violates the law or is contrary to public policy is not valid


Genuine Assent - ANS both parties must evidence a serious willingness to be bound to the
terms of the agreement


Form - ANS some contracts must be in writing to be valid and enforceable


1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.