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Contract Law for Paralegals Exam Test Questions with Correct Answers| Updated Version
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Contract Law for Paralegals Exam Test Questions with Correct Answers| Updated Version What is a contract? a contract is a legally enforceable agreement composed of a promise or promises that have been agreed on and that create both rights and duties for the parties to the agreement. Requires: - mutual assent, - consideration, aka "bargained-for exchange of promises", and - no defenses to formation. (#1, 8) . What law applies to: Services Land Goods • common law (state case law) for services; • common law (state case law) for land sales; and • Uniform Commercial Code for goods (UCC Article 2 and NRS 104.2) (#1, p. 9)
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