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5 Written questions

5 Matching questions

  1. Cost Predictions
  2. Length of Agency
  3. Cost Conditions
  4. Breach
  5. Mutual Assent
  1. a aka meeting of the minds or intent to contract. Requires both offer and acceptance
  2. b a failure to perform some promised act or obligation
  3. c In some cases, if a project is not bid under a guaranteed amount by the designer, the fees will be reduced or eliminated
  4. d Agent can be terminated at any time, unless contract explicitly states that agent cannot be terminated
  5. e forecasts about future costs

5 Multiple choice questions

  1. A cause and effect relationship in which one variable controls the changes in another variable.
  2. A court will award money or other relief to a party injured by a breach of contract
  3. A doctrine that says if a shareholder dominates a corporation and uses it for improper purposes, a court of equity can:
    Disregard the corporate entity, and
    Hold the shareholder personally liable for the corporation's debts and obligations
  4. (law) compensation for losses that can readily be proven to have occurred and for which the injured party has the right to be compensated
  5. a business owned and controlled by one person.

5 True/False questions

  1. Adhesion Contracta contract that heavily restricts one party while leaving the other free (as some standard form printed contracts)


  2. Frauda deliberate deception intended to produce unlawful gain


  3. Mutual MistakeBoth parties have a common but erroneous belief forming the basis of a contract


  4. Certainty of TermsState law requires certain instruments, such as deeds, real estate sales contracts and certain leases, to be in writing to be legally enforceable


  5. Obligation to MitigateParty must try to mitigate additional losses. (i.e. renting a room)