CONTRACT/BUS DOC

A breach of contract will have occurred when

• the contract is accepted by someone .

• all parties have done their part .

• one party has failed to comply with the agreement.

• the contract has been discharged.

For an acceptance to be valid it must be

• qualified

• unqualified

• conditional

• in writing

A price tag on an article on display in a shop is

• an invitation to treat

• a consideration

• a counter-offer

• a special offer

Payment to a seller is

• a consideration

• an acceptance

• a counter-offer

• an agreement

The term 'capacity' refers to

• an ability to sign your name

• someone under the age of 18

• an ability to act responsibility

• a void contract

A statement of account is a

• list of all the goods sold to a customer.

• summary of all transactions over a period .

• letter advising customers they have not paid their account

• refund of an overcharge.

If a customer receives a credit note from a supplier, this means

• their account is no longer in credit

• they need to make a further payment

• they have been overcharged by the seller

• they have been uncharged by the seller

The document that will be sent from the seller to the buyer to advise him/her how much is owed to the seller is known as

• a transaction report

• an advice note

• a statement of account

• an invoice

This is when the court forces the breaching party to perform the service or deliver the goods that they promised in the contract. This describes which remedy for breach of contract?

• Sue for damages

• Injunction

• Specific performance

• Repudiation

It is used in cases where funds are being borrowed from financial institutions to purchase items.

• Invoice

• Pro forma invoice

• Receipt

• Letter of enquiry