Budget
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Net Worth | Assets minus liability
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| personal property inventory | a list of the valuable items you own, along with their purchase prices, and approximate current values
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| depreciation | a loss of value over time
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| tax records | include the tax return, W-2 forms, and other receipts verifying income and expenses listed on each. Need to keep for at least three years
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| other documents that you need to keep for three years | insurance, birth certificate, marriage certificate, passport, car titles, list of credit card numbers, etc
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| contract | legally enforcement agreement between two or more people
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| express contracts | done through mouth or written or email
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| implied contract | not written but is created by the actions or conduct of someone. The terms are implied
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| Agreement | a contract has legal agreement when valid offer is made and accepted
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| assets | liability and equity
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| consideration | something of value exchanged for something less of value
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| contractual conpacity | refers to the competence (legal ability) of the parties to enter a contract
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| legality | a contract must have a lawful purpose; some contracts must have a special form i order to be legally enforeable
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| Statute of Frauds | there to prevent harm due to fraudulent conduct
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| Fraud | misrepresentation of someone or something
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| responsibilities in agreements | -fill in all blank spaces or indicate N/A for items that are not applicable
-write clearly
-enter dates and amount correctly and clearly
-be sure the seller has supplied all relevant information
-underdstand all terms contained in the aggreements
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| Negotiable instrument | an unconditional written promise to pay a specific sun of money upon demand of the holder
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| Promissory note | Written promise to pay a certain sum of money to another person or to the holder of the notes on a specific date
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
itskatie_98
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