1. Tyrell Robertson & DuRanda Smith
Jeopardy Review Game
Tyrell Robertson & DuRanda Smith

2. Welcome! The Topic For Today Is…. Vocabulary

3. Elements of a contract
Characteristics of a contract
Termination of an offer
Requirements of Acceptance
Miscellaneous
200
400
600
800
1000
Bonus Question: 5000 pts

4. Topic 1: 200 Question 1: What is a Check?
Answer: A check is a draft drawn on a bank and payable on demand.
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5. Topic 1: 400
Question: A drawee who has written “accepted “ on the document and signed his or her name.
Answer: What is the Acceptor.
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6. Topic 1: 600 Question: Give an example of a draft.
Answer: Checks and bills of sale
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7. Topic 1: 800
Question: Check issued against checking account with insufficient funds to cover it.
Answer: What is a Bad Check
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8. Topic 1: 1000
Question: A written acknowledgement of the receipt of money and its promise to pay back the money, usually with interest on the due date.
Answer: What is a Certificate of Deposit.
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9. Topic 2: 200
Question: Finance charges are added after subtracting payments made during billing period
Answer: What is an Adjusted Balance Method.
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10. Topic 2: 400
Question: Lien for unpaid services assessed against personal property that has been improved.
Answer: What is an Artisan’s Lien.
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11. Topic 2: 600
Question: Finance charges figured by adding balances for each day in billing period and then divide by the number of days in the billing period
Answer: What is Average Daily Balance Method
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12. Topic 2: 800
Question: Card or other device used to obtain goods, money, or services on credit.
Answer: What is a Credit Card
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13. Topic 2: 1000 Question: A party who buys on credit or borrows money
Answer: What is a Debtor
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14. Topic 3: 200
Question: Check issued against checking account with insufficient funds
Answer: What is a Bad Check
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15. Topic 3: 400 Question: One ordered to pay the money
Answer: What is the Drawee.
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16. Topic 3: 600 Question: The person who orders the money to paid.
Answer: What is the Drawer
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17. Topic 3: 800
Question: A check signed by someone else other than drawer and without authority.
Answer: What is a Forged Check
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18. Topic 3: 1000
Question: - Draft issued by a post office, bank, express company, or telegraph company for use in paying or transferring funds for the purchaser
Answer: What is a money order.
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19. Topic 4: 200
Question: A draft payable as soon as it is presented to drawee for payment
Answer: What is a Sight Draft
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20. Topic 4: 400
Question: Payable at a future date that is written on the face of the note
Answer: What is a Time Note.
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21. Topic 4: 600 Question: How would you define serious intent?
Answer: I would define serious intent as entering into the contract with a legal obligation.
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22. Topic 4: 800
Question: How would you define definiteness and certainty?
Answer: Definiteness and certainty means that you state exactly what the contract is about.
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23. Topic 4: 1000
Question: Used by a seller of goods to receive payment or to extend credit
Answer: What is Trade Acceptance
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24. Topic 5: 200
Question: Party agreeing to be secondarily liable in case of default by the principal debtor
Answer: What is the Gaurantor
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25. Topic 5: 400
Question: Charging a greater amount of interest on a loan than is allowed by law?
Answer: What is Usury
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26. Topic 5: 600
Question: Third party agreeing to be primarily liable for debt in case of default by the principal debtor
Answer: What is the Surety
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27. Topic 5: 800
Question: A contract where debtor retains possession of collateral under a written contract
Answer: What is a Security Agreement
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28. Topic 5: 1000
Question:
Finance charges figured as if no payments made during billing period!
Answer
(What is the Previous Balance Method!)
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29. Bonus Question: 5000 pts.
Question: Legal right in another’s property as security for the performance of an obligation such as the repayment of a loan
Answer: What is a Lien
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30. Daily Double
Of the six elements, which is the most crucial to setting up a valid contract?

31. Daily Double
You lost your backpack and posted a $20 reward for it. If someone who did not know about the reward returned the backpack, would you be legally obligated to pay the reward?