Law of Contract

Law of Contract

12th Grade - University

30 Qs

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Law of Contract

Law of Contract

Assessment

Quiz

Business

12th Grade - University

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Created by

guna gis

Used 899+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is required to form a legally binding contract?

Offer, Acceptance, Consideration, Intention, Certainty.

Duty, Breach, Causation, Damages

Offer, Acceptance, Collateral, Sufficiency.

Invitation to treat, Offer, Counter Offer, Acceptance.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

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.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The purpose of contract needs to be for a lawful purpose.

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_________________ is the legal ability to enter into a contract, so minors and those with mental impairments lack it.

Executory

Consent

Acceptance

Capacity

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In an express contract, the two parties state all the important terms of their agreement.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In order for _______________ to be present in a contract, the offeree must say or do something to accept.

Void

Bilateral

Acceptance

Writing

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A Valid contract is one that satisfies all of the law’s requirements.

TRUE

FALSE

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