Introductory Business Law CLEP Prep Practice Exam

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Which of the following is NOT a characteristic of contracts?

  1. Assent

  2. Bargaining

  3. Protection of Intellectual Property

  4. Consideration

The correct answer is: Protection of Intellectual Property

Contracts are legally binding agreements between parties and are typically based on the principles of assent, bargaining, and consideration. While protection of intellectual property may be included in a contract, it is not considered a characteristic of contracts since it is a separate and distinct aspect of the agreement. The other options are incorrect because they are all essential components that make a contract legally enforceable.

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