LSB Chapter 6 Exam Questions with Correct Answers| Latest Update Guaranteed Success
The Code of Hammurabi is a _______ legal code that dates back to 1754 BC, most of which
deals with 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 has the following basic elements: _______, _______, ______, and _______,
(Choose four correct answers) consideration
mutual assent
legality
capacity
A valid offer and acceptance is usually how parties demonstrate _______. mutual assent
_______ requires both sides 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 means that each contract must satisfy a legal purpose to be enforceable.
Legality
________ in the United States allows persons to enforce contracts that are freely made and
signed. Freedom of contract
The Code of Hammurabi is a _______ legal code that dates back to 1754 BC, most of which
deals with 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 has the following basic elements: _______, _______, ______, and _______,
(Choose four correct answers) consideration
mutual assent
legality
capacity
A valid offer and acceptance is usually how parties demonstrate _______. mutual assent
_______ requires both sides 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 means that each contract must satisfy a legal purpose to be enforceable.
Legality
________ in the United States allows persons to enforce contracts that are freely made and
signed. Freedom of contract
