← Chapter 16 Test
2 Written Questions
2 Multiple Choice Questions
- absence of knowledge of any defects or problems.
- equally guilty; used in reference to a transaction as to which relief will not be granted to either party because both are equally guilty of wrongdoing.
2 True/False Questions
public policy → certain objectives relating to health, morals, and integrity of government that the law seeks to advance by declaring invalid any contract that conflicts with those objectives even though there is no statute expressly declaring such a contract illegal.
usury → any plan by which a consideration is given for a chance to win a prize; it consists of three elements: (1) there must be a payment of money or something of value for an opportunity to win, (2) a prize must be available, and (3) the prize must be offered by lot or chance.