CSEC CONTRACT

What is required to form a legally binding contract?

• Offer, Acceptance, Consideration.

• Duty, Breach, Causation, Damages

• Offer, Acceptance, Collateral, Sufficiency.

• Invitation to treat, Offer, Counter Offer, Acceptance.

After talking to the salesman on the phone, Molley agree to buy a set of glassware. What type of contract is this?

• Oral

• Unenforceable

• Valid

• Written

Jim purchases a rare antique piece for $5,000. The contract was signed by both parties. in this scenario, who is Jim?

• donee

• donor

• offeree

• offeror

What is a counter offer?

• A further offer made by the original offeror.

• Where a party seeks to introduce a secondary or ancillary agreement to the original contract.

• Where a party seeks to change or vary terms of the original offer or seeks to introduce a new term(s).

• A rejection and withdrawal of the original offer.

What is the general rule of the postal acceptance rule?

• The offer will be accepted once the letter is received by the offeror.

• When the seal of the letter is broken by the offeror.

• When the letter is posted by the offeree.

• When the offeree gets notification from the Royal Mail or Courier that his letter has been received.

What is the definition of an offer?

• An expression of willingness to negotiate.

• A declaration that one party will contract with another.

• Expression of willingness to contract with the party to whom it is addressed, as soon as the latter accepts its terms.

• An invitation for other parties to consider whether they are able to purchase the goods/services.

What is the definition of an invitation to treat?

• An invitation to another party to accept the offer

• An indication of one party's willingness to enter into a contract with the party to whom its addressed as soon as the latter accepts its terms.

• When the offeree terminates the offer

• An invitation to the other party to make an offer.

A document that shows how much the customer is refunded if delivery wrong or damaged.

• Credit Note
• Remittance Advice Slip
• Receipt
• Invoice

A document sent monthly, summarises orders made, payments and credits on a customers account

• Purchase Order
• Statement of Account
• Receipt
• Invoice

An attractively printed booklet giving full description of goods and their prices is called a/an

• Catalogue

• Receipt

• Invoice

• Booklet