"Design an Effective Opening for This Lesson

question 33

Multiple Choice

"Design an effective opening for this lesson."

• A) Yes
• B) No

---

Definitions:

Privity Of Contract

The principle that a contract imposes rights and obligations only on the parties to the contract, and not on any third parties.

Restatement Test

A doctrine used to reinterpret or clarify existing laws or legal principles, often through a secondary authoritative source that restates the law.

Privity Of Contract

The principle that contracts are binding only on the parties signing the agreement, not on any third parties.

Loan Default

The failure to meet the legal obligations or conditions of a loan, such as not making scheduled payments on time.