Business & Personal Law Ch. 4

Front

A unilateral contract is a contract that contains a promise by one person.

Back

True

Front

An implied contract is a contract that comes about from the actions of the parties.

Back

True

Front

The termination of an offer may occur in any of six ways.

Back

False

Front

An implied contract involves words while an express contract does not.

Back

False

Front

There are six elements of a contract

Back

True

Front

The offeree is the person making the offer.

Back

False

Front

A void contract has no legal effect because at least one element is missing.

Back

True

Front

An invitation to negotiate may look like an offer but it is not.

Back

True

Front

A contract is any agreement enforceable by law.

Back

True

Front

An offer is a proposal by one party to another intended to create a legally binding agreement.

Back

True