Answer Key
Vocabulary test
Drag & drop: Fill in the missing expression. Use the following words and phrases:
- validity
- performance
- obligation
- extension
- breach
- renew
- damages
- capacity
- terms
- oral agreement
- In many states, an [oral agreement] is considered to be as binding as a more formal written document.
- A lease agreement is a good example of a contract that often offers the possibility to [renew] the contract under the same terms as the original.
- Failure to do any of the following will be considered to be a [breach] of contract.
- In most countries, there are strict laws governing the [capacity] of children and the mentally handicapped to sign contracts.
- If both parties are pleased with the agreement after one year, there is the option to agree to a six-month [extension] of the contract.
- According to this contract, your legal [obligation] ends at the moment that you deliver the goods – you are not responsible for them after that.
- For your side, [performance] includes supply and delivery of the goods, as well as arranging all necessary import and export permits.
- Claiming breach of contract, Microsoft is seeking 27 million dollars in [damages] from one of their suppliers who failed to deliver materials at the agreed upon time.
- The [validity] of this agreement extends from the date of signature to January 1 of the next year.
- I would like to discuss some of the [terms] of this contract which I find unclear, specifically the clauses covering default and damages.