challenge 1 unit 2.docx - 1 Contracts function as a symbol...

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1. Contracts function as a symbol of __________ in modern society. a.) corruption b.) individual freedom. Correct answer c.) prosperity d.) chaos
2. Select the true statement about the Convention on Contracts for the International Sale of Goods (CISG).
3. Riya writes an email promising to sell her car to Manish for $500, and Manish replies that he will pay Riya on the 24th of the month. On the 24th, Manish pays Riya and she gives him the title to the car. Manish and Riya have a(n) __________.
executory contract d.) unilateral contract 4. The contractual element of consideration means that __________.

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