10/20/25, 7:30 PM PVL3702 Exam Pack Overview and Key Legal Concepts
PVL3702 Exam Pack Overview and Key Legal Concepts
COMPLETE QUESTIONS AND ACCURATE DETAILED ANSWERS
\GRADED A+
Law of Contract Legal framework governing agreements between parties.
Offer Proposal to enter a contract, indicating willingness.
Acceptance Agreement to the terms of an offer.
Consensus Mutual agreement between parties on contract terms.
Misrepresentation False statement influencing a party's contract decision.
Duress Coercion affecting a party's ability to consent.
Undue Influence Improper pressure exerted on a party to contract.
Commercial Bribery Offering something of value to influence business decisions.
Illegal Contracts Agreements that violate law and are unenforceable.
Void Contracts Agreements lacking legal effect from inception.
Formalities Legal requirements for certain contracts to be valid.
Possibility Requirement that contract terms must be achievable.
Terms Specific provisions and obligations within a contract.
Case Law Judicial decisions that interpret contract law principles.
Crawley Rex Case reference related to contract law principles.
Carlill v. Carbolic Smoke Ball Landmark case establishing unilateral contract principles.
Co.
Bloom v The American Swiss Case addressing misrepresentation in contract formation.
Watch Company
Study Unit 6 & 7 Focus on offer and acceptance concepts.
Study Unit 13 Explores duress in contract law context.
Study Unit 14 Examines undue influence in contractual agreements.
Study Unit 15 Discusses implications of commercial bribery.
Study Unit 17 and 18 Covers legality of contracts and void agreements.
/ 1/1
6
,10/20/25, 7:30 PM PVL3702 Exam Pack Overview and Key Legal Concepts
Study Unit 19 Addresses formalities required for valid contracts.
Study Unit 20 Focus on possibility of contract terms being fulfilled.
Study Unit 23 Details on terms and conditions in contracts.
Ticket Cases Legal cases involving ticket sales and disputes.
Interpretation Understanding the meaning of legal texts.
Breach of Contract Failure to perform contractual obligations.
Repudiation Refusal to fulfill contractual duties.
Prevention of Performance Obstacles preventing contract execution.
Remedies for Breach Legal solutions for contract violations.
Exceptio Non Adimpleti Defense against performance due to non-fulfillment.
Contractus
Rescission Cancellation of a contract.
Damages Monetary compensation for loss or injury.
Penalty Clauses Contractual stipulations imposing penalties for breach.
Exceptio Doli Defense against claims based on bad faith.
Cession Transfer of rights or claims to another party.
Termination of Obligations Ending of contractual duties.
Will Theory Contract law principle focusing on mutual consent.
Estoppel Prevention of a party from contradicting previous statements.
Quasi-Mutual Assent Implied agreement based on circumstances.
Material Mistake Significant error affecting contract validity.
Subjective Approach Court's focus on individual party intentions.
Legal Texts Documents containing laws or regulations.
Contractual Obligations Duties imposed by a contract.
Identity of Parties Recognition of individuals involved in a contract.
Material Aspects Key elements of a contractual agreement.
Legal Solutions Judicial remedies for legal disputes.
Horse Breeders' Association Organization regulating horse breeding standards.
Contract Validity Legitimacy of a contract under law.
A false statement made without intent to deceive,
Innocent misrepresentation
which does not affect the materiality of the contract.
A mistake regarding a characteristic of the thing sold
Non-material mistake
that does not affect the essence of the contract.
A provision in a contract that exempts one party from
Exemption clause
liability for certain representations or actions.
A theory in contract law suggesting that a contract
Will theory
arises from the mutual intention of the parties.
/ 2/1
6
, 10/20/25, 7:30 PM PVL3702 Exam Pack Overview and Key Legal Concepts
A legal doctrine allowing a contract to be valid even
Quasi-mutual assent
when there is no mutual agreement, based on
reliance.
A principle that a party can be bound by a contract
Direct reliance theory
based on their reliance on the representations of
another party.
/ 3/1
6
PVL3702 Exam Pack Overview and Key Legal Concepts
COMPLETE QUESTIONS AND ACCURATE DETAILED ANSWERS
\GRADED A+
Law of Contract Legal framework governing agreements between parties.
Offer Proposal to enter a contract, indicating willingness.
Acceptance Agreement to the terms of an offer.
Consensus Mutual agreement between parties on contract terms.
Misrepresentation False statement influencing a party's contract decision.
Duress Coercion affecting a party's ability to consent.
Undue Influence Improper pressure exerted on a party to contract.
Commercial Bribery Offering something of value to influence business decisions.
Illegal Contracts Agreements that violate law and are unenforceable.
Void Contracts Agreements lacking legal effect from inception.
Formalities Legal requirements for certain contracts to be valid.
Possibility Requirement that contract terms must be achievable.
Terms Specific provisions and obligations within a contract.
Case Law Judicial decisions that interpret contract law principles.
Crawley Rex Case reference related to contract law principles.
Carlill v. Carbolic Smoke Ball Landmark case establishing unilateral contract principles.
Co.
Bloom v The American Swiss Case addressing misrepresentation in contract formation.
Watch Company
Study Unit 6 & 7 Focus on offer and acceptance concepts.
Study Unit 13 Explores duress in contract law context.
Study Unit 14 Examines undue influence in contractual agreements.
Study Unit 15 Discusses implications of commercial bribery.
Study Unit 17 and 18 Covers legality of contracts and void agreements.
/ 1/1
6
,10/20/25, 7:30 PM PVL3702 Exam Pack Overview and Key Legal Concepts
Study Unit 19 Addresses formalities required for valid contracts.
Study Unit 20 Focus on possibility of contract terms being fulfilled.
Study Unit 23 Details on terms and conditions in contracts.
Ticket Cases Legal cases involving ticket sales and disputes.
Interpretation Understanding the meaning of legal texts.
Breach of Contract Failure to perform contractual obligations.
Repudiation Refusal to fulfill contractual duties.
Prevention of Performance Obstacles preventing contract execution.
Remedies for Breach Legal solutions for contract violations.
Exceptio Non Adimpleti Defense against performance due to non-fulfillment.
Contractus
Rescission Cancellation of a contract.
Damages Monetary compensation for loss or injury.
Penalty Clauses Contractual stipulations imposing penalties for breach.
Exceptio Doli Defense against claims based on bad faith.
Cession Transfer of rights or claims to another party.
Termination of Obligations Ending of contractual duties.
Will Theory Contract law principle focusing on mutual consent.
Estoppel Prevention of a party from contradicting previous statements.
Quasi-Mutual Assent Implied agreement based on circumstances.
Material Mistake Significant error affecting contract validity.
Subjective Approach Court's focus on individual party intentions.
Legal Texts Documents containing laws or regulations.
Contractual Obligations Duties imposed by a contract.
Identity of Parties Recognition of individuals involved in a contract.
Material Aspects Key elements of a contractual agreement.
Legal Solutions Judicial remedies for legal disputes.
Horse Breeders' Association Organization regulating horse breeding standards.
Contract Validity Legitimacy of a contract under law.
A false statement made without intent to deceive,
Innocent misrepresentation
which does not affect the materiality of the contract.
A mistake regarding a characteristic of the thing sold
Non-material mistake
that does not affect the essence of the contract.
A provision in a contract that exempts one party from
Exemption clause
liability for certain representations or actions.
A theory in contract law suggesting that a contract
Will theory
arises from the mutual intention of the parties.
/ 2/1
6
, 10/20/25, 7:30 PM PVL3702 Exam Pack Overview and Key Legal Concepts
A legal doctrine allowing a contract to be valid even
Quasi-mutual assent
when there is no mutual agreement, based on
reliance.
A principle that a party can be bound by a contract
Direct reliance theory
based on their reliance on the representations of
another party.
/ 3/1
6
