Answer keys
Text 1
1.3.
1.4.
1. F; 2. T; 3. F; 4. T; 5. T; 6. F.
Text 2
2.4.
1. Children have limited capacity to make contracts.
2. Rights under a contract may be assigned to a third person.
3. Contracts can be made verbally and in writing.
4. Such factors as misrepresentation, mistake, duress and undue influence may invalidate a contract.
5. A void agreement is an agreement which is considered to be illegal.
Text 3
3.3.
The company could not pay the people who had supplied it with goods because it was bankrupt.
The man refused to go away until he had seen the manager.
Before dealing with a buyer one should always make sure they are reliable.
The new government banned all trade with several countries.
In all business there are risks of losing money.
It took ten years for the government to fulfil its economic plan.
All countries need foreign exchange to pay for imports.
Several companies have defaulted and are unable to pay their accounts.
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