Name

Grade/Section

1. What is the primary purpose of a contract in business transactions?

• a) To outline the terms of a partnership

• b) To establish legal obligations between parties

• c) To define employee responsibilities

• d) None of the above

2. Which of the following is a valid reason for terminating an employment contract?

• a) Employee’s personal health issues

• b) Company’s financial difficulties

• c) Violation of company policies

• d) All of the above

3. What is the term used for the legal right of an individual to own property?

• a) Ownership rights

• b) Intellectual Property

• c) Title of property

• d) Possession rights

4. Which of the following is considered a breach of contract?

• a) Failing to fulfill a contractual obligation

• b) Agreeing to terms without mutual consent

• c) Providing false information during contract formation

• d) All of the above

5. In a legal dispute, what does "burden of proof" refer to?

• a) The requirement to present evidence to prove a claim

• b) The process of determining damages

• c) The agreement of both parties to resolve the issue

• d) None of the above