Contracts

Contracts

Assessment

Flashcard

Other

10th Grade

Hard

Created by

Wayground Content

FREE Resource

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16 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is NOT an essential element of a contract? Offer, Acceptance, Consideration, None of these answers

Back

None of these answers

2.

FLASHCARD QUESTION

Front

True or False: Agreements must be in writing to be enforceable.

Back

False

3.

FLASHCARD QUESTION

Front

A flyer from Best Buy advertises the newest model iPhone for $99. Is this a legally enforceable offer or an invitation to negotiate?

Back

Invitation to Negotiate

4.

FLASHCARD QUESTION

Front

A newspaper advertisement indicates that the first 50 people to arrive at the new Chick-fil-A will receive free chicken sandwiches for a year. Is this a legally enforceable offer or an invitation to negotiate?

Back

Legally Enforceable Offer

5.

FLASHCARD QUESTION

Front

Fill in the blank: If an offer does not indicate a time of expiration, then the offer will expire upon a(n) _________________________ period of time.

Back

reasonable

6.

FLASHCARD QUESTION

Front

Fill in the blank: If the offeree gives something of value to keep an offer open, the contract created is called a(n) __________________.

Back

Option

7.

FLASHCARD QUESTION

Front

When an offerree accepts an offer, but changes the original terms of that offer, the offerree’s acceptance is called _______________:

Back

A counteroffer

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