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Exam (elaborations)

Texas Law of Contracts - Level 4 Exam QUESTIONS AND CORRECT ANSWERS

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Texas Law of Contracts - Level 4 Exam QUESTIONS AND CORRECT ANSWERS Consideration - CORRECT ANSWER something of value exchanged by the parties as evidence of agreement to the terms of a contract Agency - CORRECT ANSWER behalf of the other Bilateral - CORRECT ANSWER a relationship where one party is authorized to act on having or involving two sides, often with some degree of reciprocal impact or obligation Unilateral - CORRECT ANSWER having or involving one side; performed by one party without imposing obligation of performance on another party

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Law Of Contracts
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Law of contracts

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Texas Law of Contracts - Level 4 Exam
QUESTIONS AND CORRECT ANSWERS
Consideration - CORRECT ANSWER something of value exchanged by the parties as
evidence of agreement to the terms of a contract



Agency - CORRECT ANSWER a relationship where one party is authorized to act on
behalf of the other



Bilateral - CORRECT ANSWER having or involving two sides, often with some
degree of reciprocal impact or obligation



Unilateral - CORRECT ANSWER having or involving one side; performed by one
party without imposing obligation of performance on another party



Doctrine of laches - CORRECT ANSWER a legal principle used to bar dated claims;
used in conjunction with an unreasonable delay or negligence in asserting or defending one's
rights



Statute of limitations - CORRECT ANSWER legal concept that establishes time limits
from the date of event for bringing certain kinds of legal actions
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  • texas law of contracts level 4 exam
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