6.5. Types of legal contracts

Question 1:

This agreement is used to ensure the repayment of money borrowed, usually in monthly instalments. consultancy agreement distribution agreement loan agreement franchise agreement Question 2:

This agreement is used where one party buys goods from the manufacturer and re-sells them on his own account. He will however be given the right to use the manufacturer\'s intellectual property rights. shareholders agreement distribution agreement contract of employment franchise agreement

Question 3:

This agreement sets out the terms and conditions on which a business supplies goods. terms and conditions of sale agreement loan agreement directors service agreement consultancy agreement Question 4:

This agreement is used where one party grants to another the right to run a business in the name of the first party. Examples include Body Shop and McDonalds. consultancy agreement distribution franchise agreement manufacturing licence agreement

Question 5:

This is equivalent of a contract of employment for directors. directors` service agreement contract of employment loan agreement consultancy agreement Question 6:

This agreement is used where one party is providing services as an independent advisor to a company. shareholders` agreement terms and conditions of sale agreement loan agreement consultancy agreement Question 7:

This agreement should be used where one party (the licensor) owns intellectual property rights in respect of a product it has developed and wishes to license the manufacture of the product to a third party. distribution agreement franchise agreement manufacturing licence agreement loan agreement Question 8:

This is intended to govern the relationship between a number of shareholders in a company. The agreement works as a second layer of protection preventing the company from being run in a manner other than has been agreed. consultancy agreement shareholders` agreement terms snd conditions of sale agreement loan agreement Question 9:

This contract comes into existance as soon as job offer is accepted whether that offer is oral or in writing. concultancy agreement loan agreement contract of employment directors` agreement

Types of legal contracts (Keys)

Question: 1: This agreement is used to ensure the repayment of money borrowed, usually in monthly instalments. The right answer: loan agreement

Question: 2: This agreement is used where one party buys goods from the manufacturer and re-sells them on his own account. He will however be given the right to use the manufacturer\'s intellectual property rights. The right answer: distribution agreement

Question: 3: This agreement sets out the terms and conditions on which a business supplies goods. The right answer: terms and conditions of sale agreement

Question: 4: This agreement is used where one party grants to another the right to run a business in the name of the first party. Examples include Body Shop and McDonalds. The right answer: franchise agreement

Question: 5: This is equivalent of a contract of employment for directors. The right answer: directors` service agreement

Question: 6: This agreement is used where one party is providing services as an independent advisor to a company. The right answer: consultancy agreement

Question: 7: This agreement should be used where one party (the licensor) owns intellectual property rights in respect of a product it has developed and wishes to license the manufacture of the product to a third party. The right answer: manufacturing licence agreement

Question: 8: This is intended to govern the relationship between a number of shareholders in a company. The agreement works as a second layer of protection preventing the company from being run in a manner other than has been agreed. The right answer: shareholders` agreement

Question: 9: This contract comes into existance as soon as job offer is accepted whether that offer is oral or in writing. The right answer: contract of employment