Contract Terminology

Choose the best answer from the three options in each question.

1. A ______ is a formal agreement between two or more parties.
a) signature
b) contract
c) condition

2. The ______ of a contract are the details about what each party must do.
a) signatures
b) expiry
c) terms

3. To make a contract valid, all parties must ______ it.
a) discuss
b) sign
c) renew

4. An ______ is something that a party is legally required to do.
a) obligation
b) option
c) agreement

5. When a contract reaches its ______ date, it is no longer in effect.
a) renewal
b) expiry
c) signing

6. You can ______ a contract to make changes or add new terms.
a) sign
b) break
c) amend

7. A ______ is a smaller part of a larger contract.
a) clause
b) signature
c) term

8. If you don't follow the contract, it can lead to a ______.
a) renewal
b) breach
c) signature