III. Complete the sentences with the proper verbs.

22. Should one party fail to ______ the agreement, the other party may take the case to court for enforcement.

a) sign b) carry out c) keep

23. When people do not have the mental ability to understand the nature of contracts, they may be ______ incompetent in a court of law.

a) considered b) made c) declared

24. Examples of illegal agreements ______ those involving agreement to steal or to accept stolen goods.

a) exclude b) include c) conceal

25. Problems ______ if people enter into an agreement when there is a misunderstanding on the part of one or both parties.

a) result b) present c) come

26. An attorney is a person with legal authority to ______ for another in business or law.

a) act b) work c) decide

27. A person or business firm that ______ into contracts is called a contractor.

a) comes b) goes c) enters

IV. Find the incorrect variant.

28. There must be something of value exchanged among the parties to make the

(a) (b) (c) (d)

contract binding.

29. Consideration may include services, good, or a promise not to do something

(a) (b) (c) (d)

one has the right to do.

30. Many contracts are simple and informal, and little of such contracts would

(a) (b)

involve the exchange of much money.

(c) (d)

31. Contracts may be either writtenandoral.

(a) (b) (c) (d)

32. Always get an example of what you sign with the signature of the other party.

(a) (b) (c) (d)

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