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Business Law -- Contracts

Authored by Ken Furstenau

Business

10th - 12th Grade

Used 130+ times

Business Law -- Contracts
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An agreement comprised of an offer and an acceptance is one element of a legal contract

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another element of a legal contract is consideration in equal amounts. For instance: If I do $50 worth of work, you must in return give me $50.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another element of a legal contract is that both parties must have capacity to contract.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another element of a legal contract is that the contract entered into must be for legal purposes if a court is going to enforce it.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A contact to be enforceable must always be in writing.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

While advertisements can be offers to enter into a contact, negotiations in an attempt to get the best price are not considered offers.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A willingness to enter into a bargain in such a way that another person would interpret that they could accept it concluding any negotiation is considered an:

Offer

Acceptance

Consideration

Capacity

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