Types of Contracts Recognized by Law Include Contracts

question 21

Multiple Choice

Types of contracts recognized by law include contracts.

• A) injunction
• B) consideration
• C) oral
• D) exemplary

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Definitions:

Restrictive Endorsement

A limitation placed on the use of a check or other negotiable financial instrument, specifying conditions under which it can be transferred or cashed.

Stop Payment Order

A request made to a bank to cancel a check or payment that has not been processed yet.

Subrogation

The legal process by which one party stands in for another to claim restitution or indemnity from a third party for a loss or damage.

Improper Payment

Payments made by organizations that should not have been made or that were made in an incorrect amount.