True/False
Indicate whether the sentence or statement is true
or false.
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1.
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All
serious agreements are contracts.
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2.
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Social agreements create legal obligations.
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3.
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All
contracts must be in writing.
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Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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4.
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Which
of the following is NOT one of the major requirements for a contract? a. | time | c. | capacity | b. | genuine assent | d. | consideration | | | | |
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5.
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In
the United States, a jury is made up of ____________ jurors.
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6.
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The
highest court in the United States is the ____________________ Court. a. | Appellate | c. | Supreme | b. | Judicial | d. | Superior | | | | |
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Completion
Complete each sentence or
statement.
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7.
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Two
defenses of defamation are ________________________________ and
_________________________________________________.
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Matching
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Insurance Terms
a. | risk pooling | e. | renters’ insurance | b. | liability | f. | replacement
value | c. | loss of use | g. | long term disability | d. | workers’
compensation | h. | actual cash
value | | | | |
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8.
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When
many people each contribute a bit of money to cover those few who have losses
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9.
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This
type of disability insurance covers injuries that are a year or more in duration
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10.
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This
type of insurance is intended to replace lost income in case of an accident or medical problem that
happens on the job leaving the employee unable to work
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11.
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This
type of coverage protects you when you are at risk of being sued or if someone gets hurt in your
home
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12.
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A
type of homeowner's insurance that only covers the contents of a dwelling
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13.
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This
type of coverage provides protection and reimbursement if your home is not livable
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14.
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Type
of Property Insurance coverage that pays only for what the property was worth at the time of
loss
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15.
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Type
of Property Insurance Coverage that pays what it actually costs to replace the items you
lost
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Short Answer
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For a
college graduation present, your wealthy Aunt Beatrice promises to give you and your best friend two
round-trip tickets for a cruise to the Mexican Riviera. At the graduation ceremony, instead of
tickets her aunt gave her a hug and said “Sorry I didn’t get you the tickets - the prices
were way too high!”. Answer the following:
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16.
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State
two reasons why you think Aunt Beatrice should not have to pay.
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