Chapter 2 Contract Law

Chapter 2 Contract Law

12th Grade

35 Qs

quiz-placeholder

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Chapter 2 Contract Law

Chapter 2 Contract Law

Assessment

Quiz

Other

12th Grade

Medium

CCSS
RI.11-12.3, RI.11-12.5, RI.8.3

+2

Standards-aligned

Created by

Victoria Flynn

Used 25+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is NOT one of the major requirements of a contract?

time

genuine assent

capacity

consideration

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A valid offer must be communicated to the offeree and

the offeror must intend to create a legal obligation

the terms must be definite and complete

BOTH

NEITHER

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

An unaccepted offer may be terminated by

a counteroffer

a reasonable length of time

the rejection of the offeree

all of these are correct

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firm offer is binding

for a stated time

for not more than three months

even when nothing is paid by the offeree

all of these

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There is no contract

without the exchange of money

without both offer and acceptance on mutually agreed terms

BOTH

NEITHER

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Social arrangements

are not legal obligations

are legal contracts

are subject to breach of contract

none of these

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capacity to contract means that the person

has a genuine need for the goods or services purchased

has ample room to store goods that are purchased

has the ability according to law, to understand his or her actions and the effect of those actions

all of these

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