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.
Insurable Interest
C.
Executor
D.
Security Interests
Question #2
Fail to meet obligations
A.
Default
B.
Void
C.
Avoid
D.
Waived
Question #3
One who participates jointly in borrowing
A.
Borrower
B.
Co-Signer
C.
Executor
D.
Debtor
Question #4
Liable for the payment of another's debt or the performance of another's obligation; see Guarantor
A.
Agent
B.
Debtor
C.
Insurer
D.
Surety
Question #5
One who carries on the business of an estate; see Administrator
A.
Agent
B.
Estate
C.
Executor
D.
Estate
Question #6
Claims have been abandoned
A.
Default
B.
Avoid
C.
Waived
D.
Disaffirm
Question #7
Party attempting to avoid contract liability
A.
Collateral
B.
Borrower
C.
Party to be charged
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.
Insurable Interest
D.
Ante-nuptial
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.
Administrator
B.
Executor
C.
Insurable Interest
D.
Pre-nuptial
Question #10
A promise or order to pay, such as a check; can be passed along like cash
A.
Promissory Note
B.
Statement of Account
C.
Loan
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.
Security Interest
C.
Negotiable Instrument
D.
Collateral
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.
Integrated Agreement
B.
Negotiable Instrument
C.
Affirmative Defense
D.
Click Wrap Agreement
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.
Affirmative Defense
B.
Security Interest
C.
Self Defense
D.
Negative Defenses
Question #14
The entity for managing finances of a deceased person, or an incompetent
A.
Pre-Nuptial
B.
Administrator
C.
Executor
D.
Estate
Question #15
Agreement that is intended to be final and complete
A.
Partial Agreement
B.
Integrated Agreement
C.
Comprehensive Agreement
D.
Exhaustive Agreement
Question #16
Limited right to use real property
A.
Easement
B.
Security Interest
C.
Temporary Use
D.
Lease
Question #17
One who carries on the business of an estate; see Executor
A.
Guarantor
B.
Borrower
C.
Surety
D.
Administrator
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