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.
Security Interests
B.
Insurable Interest
C.
Administrator
D.
Executor
Question #2
Fail to meet obligations
A.
Default
B.
Void
C.
Avoid
D.
Waived
Question #3
One who participates jointly in borrowing
A.
Debtor
B.
Borrower
C.
Co-Signer
D.
Executor
Question #4
Liable for the payment of another's debt or the performance of another's obligation; see Guarantor
A.
Surety
B.
Debtor
C.
Insurer
D.
Agent
Question #5
One who carries on the business of an estate; see Administrator
A.
Executor
B.
Estate
C.
Estate
D.
Agent
Question #6
Claims have been abandoned
A.
Avoid
B.
Default
C.
Disaffirm
D.
Waived
Question #7
Party attempting to avoid contract liability
A.
Party to be charged
B.
Collateral
C.
Security Interest
D.
Borrower
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.
Ante-nuptial
B.
Administrator
C.
Insurable Interest
D.
Executor
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.
Pre-nuptial
C.
Executor
D.
Insurable Interest
Question #10
A promise or order to pay, such as a check; can be passed along like cash
A.
Statement of Account
B.
Negotiable Instruments
C.
Loan
D.
Promissory Note
Question #11
Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default
A.
Negotiable Instrument
B.
Security Interest
C.
Click Wrap Agreement
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.
Click Wrap Agreement
B.
Affirmative Defense
C.
Integrated Agreement
D.
Negotiable Instrument
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.
Negative Defenses
D.
Self Defense
Question #14
The entity for managing finances of a deceased person, or an incompetent
A.
Administrator
B.
Executor
C.
Estate
D.
Pre-Nuptial
Question #15
Agreement that is intended to be final and complete
A.
Integrated Agreement
B.
Exhaustive Agreement
C.
Partial Agreement
D.
Comprehensive Agreement
Question #16
Limited right to use real property
A.
Security Interest
B.
Temporary Use
C.
Lease
D.
Easement
Question #17
One who carries on the business of an estate; see Executor
A.
Administrator
B.
Borrower
C.
Surety
D.
Guarantor
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