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AIC 301 Actual Exam Newest 2025 Complete 200
Questions And 100% Correct Detailed Answers
(Already Graded A+) Newest Version!
Liability imposed by a court or by a statute in the absence
of fault when harm results from activities or conditions that
are extremely dangerous, unnatural, ultrahazardous,
extraordinary, abnormal, or inappropriate. - ANSWER-
Strict Liability (absolute liability)
A legally enforceable agreement between two or more
parties. - ANSWER-Contract
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The party to a contract making a promise. - ANSWER-
Promisor
The party to a contract to whom a promise is made. -
ANSWER-Promisee
The relationship that exists between parties to a contract. -
ANSWER-Privity of Contract
A person who is not party to a contract but who benefits
from it and has a legal right to enforce the contract if it is
breached by either of the contracting parties. - ANSWER-
Third-party Beneficiary
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The failure, without legal excuse, to fulfill a contractual
promise. - ANSWER-Breach of Contract
The party to a contract who promises to give something in
return for a promise or an act by another party. -
ANSWER-Offeror
The party to a contract who makes a promise or acts in
return for something offered by another party. - ANSWER-
Offeree
A code of federal laws that govern commercial
transactions in the United States. - ANSWER-Uniform
Commercial Code
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A contract in which each party promises a performance. -
ANSWER-Bilateral Contract
A contract in which only one party makes a promise or
undertakes the requested performance. - ANSWER-
Unilateral Contract
A contract that has been completely performed by both
parties. - ANSWER-Executed Contract
A contract that has not been completely performed by one
or both of the parties. - ANSWER-Executory Contract
AIC 301 Actual Exam Newest 2025 Complete 200
Questions And 100% Correct Detailed Answers
(Already Graded A+) Newest Version!
Liability imposed by a court or by a statute in the absence
of fault when harm results from activities or conditions that
are extremely dangerous, unnatural, ultrahazardous,
extraordinary, abnormal, or inappropriate. - ANSWER-
Strict Liability (absolute liability)
A legally enforceable agreement between two or more
parties. - ANSWER-Contract
,2|Page
The party to a contract making a promise. - ANSWER-
Promisor
The party to a contract to whom a promise is made. -
ANSWER-Promisee
The relationship that exists between parties to a contract. -
ANSWER-Privity of Contract
A person who is not party to a contract but who benefits
from it and has a legal right to enforce the contract if it is
breached by either of the contracting parties. - ANSWER-
Third-party Beneficiary
,3|Page
The failure, without legal excuse, to fulfill a contractual
promise. - ANSWER-Breach of Contract
The party to a contract who promises to give something in
return for a promise or an act by another party. -
ANSWER-Offeror
The party to a contract who makes a promise or acts in
return for something offered by another party. - ANSWER-
Offeree
A code of federal laws that govern commercial
transactions in the United States. - ANSWER-Uniform
Commercial Code
, 4|Page
A contract in which each party promises a performance. -
ANSWER-Bilateral Contract
A contract in which only one party makes a promise or
undertakes the requested performance. - ANSWER-
Unilateral Contract
A contract that has been completely performed by both
parties. - ANSWER-Executed Contract
A contract that has not been completely performed by one
or both of the parties. - ANSWER-Executory Contract
