Business Law |170 Questions| With Correct Answers.

written contract {Ans: an agreement that is reduced to writing on a permanent surface}but not all agreements are contracts {Ans: all contacts are agreements}does not {Ans: the law ____ protect anyone, even a minor, who has committed a tort or a crime. minors are protected against their own inexperience but not against their own wrongdoing.}forbearance {Ans: the promise to refrain from doing something that a party has a legal right to do}abstract of judgment {Ans: is a written summary of a judgement which states how much money the losing defendant owes to the person who won the lawsuit, the rate of interest to be paid on the judgement amount, court costs, and any specific orders that the losing defendant must obey, which abstract is acknowledged and stamped so that it can be recorded and made official with he government}ratified {Ans: an approval of contract made by a minor after reaching majority}