Paralegal 041 - Contract Law » 2019 » Chapter 8 Review Materials
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Question #1
Interest in personal property to secure performance of an obligation; evidence of indebtedness
A.
Administrator
B.
Security Interests
C.
Insurable Interest
D.
Executor
Question #2
Fail to meet obligations
A.
Default
B.
Waived
C.
Avoid
D.
Void
Question #3
One who participates jointly in borrowing
A.
Debtor
B.
Borrower
C.
Executor
D.
Co-Signer
Question #4
Liable for the payment of another's debt or the performance of another's obligation; see Guarantor
A.
Surety
B.
Agent
C.
Insurer
D.
Debtor
Question #5
One who carries on the business of an estate; see Administrator
A.
Estate
B.
Agent
C.
Estate
D.
Executor
Question #6
Claims have been abandoned
A.
Waived
B.
Avoid
C.
Disaffirm
D.
Default
Question #7
Party attempting to avoid contract liability
A.
Party to be charged
B.
Borrower
C.
Collateral
D.
Security Interest
Question #8
Agreement in anticipation of marriage; typically involves a promise to convey property when marriage occurs or concerns division of property in the event of a divorce; see Pre-nuptial
A.
Executor
B.
Administrator
C.
Ante-nuptial
D.
Insurable Interest
Question #9
Agreement in anticipation of marriage; typically involves a promise to convey property when marriage occurs or concerns division of property in the event of a divorce; see Ante-nuptial
A.
Pre-nuptial
B.
Administrator
C.
Insurable Interest
D.
Executor
Question #10
A promise or order to pay, such as a check; can be passed along like cash
A.
Loan
B.
Statement of Account
C.
Promissory Note
D.
Negotiable Instruments
Question #11
Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default
A.
Click Wrap Agreement
B.
Collateral
C.
Negotiable Instrument
D.
Security Interest
Question #12
Agreement used in connection with software licenses; often found on the Internet as part of the installation process of software packages; usually requires user to manifest assent by clicking an "ok" button on a dialog box or pop-up window
A.
Click Wrap Agreement
B.
Negotiable Instrument
C.
Integrated Agreement
D.
Affirmative Defense
Question #13
Part of an answer to a complaint in which defendant attempts to limit or excuse liability, based on facts outside those claimed by plaintiff
A.
Security Interest
B.
Self Defense
C.
Affirmative Defense
D.
Negative Defenses
Question #14
The entity for managing finances of a deceased person, or an incompetent
A.
Pre-Nuptial
B.
Estate
C.
Executor
D.
Administrator
Question #15
Agreement that is intended to be final and complete
A.
Exhaustive Agreement
B.
Comprehensive Agreement
C.
Integrated Agreement
D.
Partial Agreement
Question #16
Limited right to use real property
A.
Easement
B.
Lease
C.
Temporary Use
D.
Security Interest
Question #17
One who carries on the business of an estate; see Executor
A.
Borrower
B.
Guarantor
C.
Surety
D.
Administrator
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