Business Law Final Exam Review of Contracts

Business Law Final Exam Review of Contracts

Assessment

Quiz

Specialty

KG - University

Medium

Used 90+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a requirement of a contract?
capacity
consideration
validity
genuine agreement

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This element refers to someones mental ability to enter into an contract.
consideration
legality
capacity
genuine agreement

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not one of the requirements of a valid offer?
has serious intent
terms are definite and complete
put in writing
communicated to offeree

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A contract that contains a promise by both parties (a promise for a promise) is 
expressed
implied
bilateral
unilateral

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If both parties willingly want to enter into the contract, they have
misrepresentation
genuine assent
legality
capacity

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An offer in the form of a  reward offer s an example of what type of a contract?
bilateral
implied
unilateral
void

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A voidable contract 
has no seal
is not in writing
has no legal effect at all
can be voided by at least 1 of the parties

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