QUESTION 3 which is defined as charging interest higher than the law permits. 3) If a loan is made at an interest rate higher than that allowed by state law, the lender is guilty of A) larceny OA B) usury c adhesion D) speculation D. QUESTION 4 4) The requirements for a license usually include paying an annual fee and passing an examination-written, oral or both to ensure A) revenue B) competence C) reliance D. D) disaffirmance QUESTION 5 5) The element of proper form requires that certain contracts must be: A) witnessed by several witnesses. B) in writing court-ordered D. D) profitable to all parties. QUESTION 6 is one of the essential elements of a valid contract. A) Litigation . B) Parol evidence Profitability of transaction for both parties D. D) Legality of purpose QUESTION 7 7) Parol evidence A) refers to supplementary evidence or conditions that a party wants to add to an existing written contract. OA B) states that any spoken or written words that are in conflict with what the written contract states should be introduced as evidence in a court of law. C) specifies that certain kinds of agreements must be in writing to be enforceable. OC D. D) does not prohibit a person from legally entering into oral contracts for certain kinds of agreements. QUESTION 8 8) There are essential requirements for a contract to be valid A) 2 OA B) 4 . C)6 OC. D.D) 8