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| 1 | |
A person who has legal __________ has the mental ability to understand his or her rights and obligations under a contract. |
| | A) | Validation |
| | B) | Veracity |
| | C) | Consideration |
| | D) | Capacity |
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| 2 | |
Today, in the vast majority of states, a minor is someone under the age of __________. |
| | A) | Sixteen (16) |
| | B) | Eighteen (18) |
| | C) | Twenty-one (21) |
| | D) | Twenty-five (25) |
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| 3 | |
__________ occurs when a minor's parents or legal guardians give up their right to exercise legal control over the minor, typically when the minor moves out of the parents' house and begins supporting himself or herself. |
| | A) | Emaciation |
| | B) | Emancipation |
| | C) | Proclamation |
| | D) | Guardianship |
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| 4 | |
Parents have a legal duty to provide their children with the basic necessities of life, such as __________, __________, and __________, and they may be held liable for the reasonable value of necessaries for which their children enter into contracts. |
| | A) | Food, entertainment, extracurricular activities |
| | B) | Food, clothing, shelter |
| | C) | Food, shelter, entertainment |
| | D) | None of the above; parents are not liable for contracts entered into by their minor children |
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| 5 | |
Which of the following contracts would not be declared illegal? |
| | A) | An agreement to commit a tort |
| | B) | A contract for representation between attorney and client; the attorney is practicing without a law license, but with a valid law degree from an "Ivy League" college/university |
| | C) | A non-usurious loan agreement |
| | D) | A contract for representation between attorney and client; the attorney is practicing without a law license, but with twenty-five years experience as a paralegal |
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| 6 | |
Which of the following agreements is likely to be held in violation of public policy? |
| | A) | A contract in restraint of trade |
| | B) | A conscionable contract |
| | C) | An unconscionable contract |
| | D) | A. and C. |
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| 7 | |
The term __________ refers to the fact that the agreement in question is so unfair that it is void of conscience. |
| | A) | Subconscionable |
| | B) | Malconscionable |
| | C) | Unconscionable |
| | D) | Conscionable |
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| 8 | |
An __________ clause is a statement releasing one of the parties to an agreement from all liability, regardless of who is at fault or what the injury suffered is. |
| | A) | Exculpatory |
| | B) | Inculpatory |
| | C) | Exculpable |
| | D) | Inculpable |
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| 9 | |
When an agreement is deemed illegal, courts will label the contract __________. |
| | A) | Voidable |
| | B) | Void |
| | C) | Exculpatory |
| | D) | Conscionable |
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| 10 | |
A "severable" contract is also known as a __________ contract. |
| | A) | Voidable |
| | B) | Void |
| | C) | Exculpatory |
| | D) | Divisible |
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