Lesson 16 Test
1.
Which of the following is required for a valid contract?
a. An agreement
b. Consideration
c. Legality
d. All choices
2. Monetary damages and equitable damages are
a. Available in Statute of Frauds cases
b. Defenses to contract enforceability
c. The two primary remedies for breach of contract
d. None of these are correct
3. Which of the following is considered a valid method of electronic
signature for the purposes of demonstrating a method of contract
acceptance?
a. Click-on agreements
b. Shrink-wrap agreements
c. Encoded keys
d. All choices
4. A person typically representing one insurance company and acts
as a conduit to provide information is
a. An insurance broker
b. An insurance agent
c. An insurance buyer
d. An insurance re-seller
5. Coverage on an insurance policy can begin when a written
memorandum indicating that a formal policy is pending and
stating its essential terms is written. This is known as
a. A binder
b. The application
c. The provisions and clauses
d. A rider
6. Intellectual property can be
a. A patent
b. A copyright
c. A trademark
d. All choices
