Business Law I Ch. 5 test review

Business Law I Ch. 5 test review

10th - 12th Grade

20 Qs

quiz-placeholder

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Business Law I Ch. 5 test review

Business Law I Ch. 5 test review

Assessment

Quiz

Business

10th - 12th Grade

Easy

Created by

Lorri Goss

Used 246+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Contract refers to

a proposal by one party to another.

a willingness to go along with another party.

an agreement enforceable by law.

an invitation to deal or trade.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Acceptance refers to

a willingness to go along with a proposal.

a proposal by one party to another.

an invitation to deal or trade.

an agreement enforceable by law.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A genuine agreement means that

a valid acceptance is met by an invalid offer.

an invalid offer is met by a valid acceptance.

a valid offer is met by an invalid acceptance.

a valid offer is met by valid acceptance.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A bilateral contract is one that

contains a promise by one person only.

contains two promises.

comes from the actions of the parties.

is required to be written.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An invitation to negotiate is

the same an an offer.

the same as an acceptance.

not an offer.

legally binding.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To counteroffer is to

reject all the terms of the original offer.

take back an original offer.

accept the terms of the original offer.

change the terms of the original offer.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Revocaition refers to

the taking back of an offer.

voiding an offer.

accepting an offer.

making another offer.

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