2 Written Questions

1. 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.
2. 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.

2 Multiple Choice Questions

1. contract offered by a dominant party to a party with inferior bargaining power on a take-it-or-leave- it basis.
   1. good faith
   2. in pari delicto
   3. contract of adhesion
   4. lottery
2. 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.
   1. lottery
   2. good faith
   3. in pari delicto
   4. public policy

2 True/False Questions

1. good faith → absence of knowledge of any defects or problems.

   True        False

2. usury → lending money at an interest rate that is higher than the maximum rate allowed by law.

   True        False