CHECK MY CHOICES PLEASE
which of the following is an example of a contract where both parties have an equal say in the terms?
unilateral
bilateral
credit card
rental agreement (i picked this)
when both parties discuss the terms of a contract they are
contracting
negotiating
agreeing (i picked this)
committing
First question is bilateral
Second one is contracting
Just did the quick check! Hope this helps:)
Oh, let's take a look at your choices, my friend!
Ah, for the first one, "which of the following is an example of a contract where both parties have an equal say in the terms?" You picked "rental agreement." Well done! In a rental agreement, both the landlord and the tenant usually have the opportunity to negotiate and discuss the terms before reaching an agreement, so it's a great example.
And for the second one, "when both parties discuss the terms of a contract they are," you went with "agreeing." Hmm, not quite! The correct answer here is "negotiating." When both parties are discussing the terms of a contract, they are in the negotiation stage, trying to find common ground and reach an agreement.
Keep up the good work, and remember, humor can help make contract law more bearable!
Your choices are as follows:
- Unilateral: This is a type of contract where one party makes a promise or undertakes an obligation without the other party providing any reciprocal consideration or having a say in the terms.
- Bilateral: This is the correct choice. Bilateral contracts involve both parties having an equal say in the terms and conditions. The parties negotiate and agree upon the terms together.
- Credit Card: This is not an example of a contract where both parties have an equal say in the terms. Credit cards typically involve one party (the credit card company) setting the terms, including interest rates and fees, which the other party (the cardholder) agrees to when they sign up for the card.
- Rental Agreement: This is not an example of a contract with equal say in the terms. A rental agreement typically involves one party (the landlord) providing predetermined terms and conditions to the other party (the tenant), who may have limited ability to negotiate the terms.
Regarding your second question, when both parties discuss the terms of a contract, they are negotiating. Negotiation involves a mutual exchange of ideas and proposals to reach an agreement on the terms of the contract.
To check your choices, let's review the options and determine the correct answers:
1. Which of the following is an example of a contract where both parties have an equal say in the terms?
- Unilateral contract: In a unilateral contract, only one party makes promises or obligations. The other party simply accepts or performs the required action without having an equal say in the terms. This choice is incorrect.
- Bilateral contract: In a bilateral contract, both parties mutually agree to the terms and conditions. This means that both parties have an equal say in the terms of the contract. This choice is correct.
- Credit card: Credit cards are payment tools, not contracts. They involve agreements between the cardholder and the card issuer, but the terms are typically set by the card issuer and not subject to negotiation. This choice is incorrect.
- Rental agreement: In a rental agreement, the landlord and the tenant negotiate and mutually agree upon the terms of the rental, such as the duration, rent amount, and other conditions. Both parties have an equal say in the terms of the rental agreement. This choice is correct.
Based on the above analysis, your choice of "rental agreement" as an example of a contract where both parties have an equal say in the terms is correct.
2. When both parties discuss the terms of a contract, they are:
- Contracting: "Contracting" refers to the overall process of creating or entering into a contract. It is a broad term and does not specifically describe the act of discussing the terms. This choice is incorrect.
- Negotiating: "Negotiating" is the correct term when both parties discuss and seek to reach an agreement on the terms of a contract. Negotiation involves a back-and-forth discussion to determine mutually acceptable conditions. This choice is correct.
- Agreeing: "Agreeing" refers to the ultimate act of both parties reaching a consensus on the terms, rather than the process of discussing the terms. This choice is incorrect.
- Committing: "Committing" generally refers to the act of making a commitment or promise to fulfill obligations, but it doesn't specifically cover the process of discussing the terms. This choice is incorrect.
Based on the above analysis, your choice of "negotiating" as what both parties are doing when discussing the terms of a contract is correct.
Overall, based on the explanations provided, your choices for the examples of a contract where both parties have an equal say in the terms ("rental agreement") and what both parties are doing when discussing the contract terms ("negotiating") are correct.
Both your answers are wrong.
What does your reading assignment say?