RE Fundamentals 11

star goldstar goldstar goldstar goldstar greyFemaleMale
10 Questions - Developed by: - Developed on: - 907 taken

  • 1
    1) If the party who has the option to disaffirm a voidable contract does so within the period prescribed by law, the courts will consider the contract valid.
  • 2
    2) Pennsylvania has a law to protect consumers from making contracts they do NOT understand by promoting the use of plain language in contracts for borrowing money.
  • 3
    3) In Pennsylvania, a party may sue up to two years from the date a contract is breached, according to the statute of limitations.
  • 4
    4) An express contract must be in writing.
  • 5
    5) Novation is a transfer of rights and/or duties under a contract.
  • 6
    6) A real estate sales contract is a bilateral contract.
  • 7
    7) To evidence that something of value was given in exchange for the promise made, there must be a definite statement of consideration in the contract.
  • 8
    8) A contract must be in writing to be enforceable.
  • 9
    9) A contract may be either void or voidable due to the doctrine of reality of consent.
  • 10
    10) A contract could be breached if the parties fail to meet their obligations by certain dates when those dates are specified as "time is of the essence."

Comment function without the Quiz / FF / list

Comments (0)