Contract Law Lightening Quiz

Which of the following statements is correct? A contract may be discharged by:

• A mistake or misrepresentation

• Performance, illegal act, duress and frustration

• Performance, agreement, breach or frustration

• None of the above, a contract may only be discharged when all of the obligations have been fulfilled

A contract will be discharged by frustration when:

• Where an intervening event makes performance of a contract impossible

• Where the contract has become more onerous to perform

What is consideration?

• An acceptance of the offer by a promisee

• A mutuality between the parties to carry out the promises of the contract

• A capacity of both parties in mind and age

• An exchange of bargained-for promises between two or more parties

While on duty, Police Officer Jones spots a stolen sports car. A few day earlier, she saw a poster offering a €1000 reward to anyone who who helped the owner recover the stolen car. Why is Officer Jones not allowed to accept the reward?

• A party cannot be paid twice for performing the same work.

• A party cannot promise to do something where there is already the legal obligation to do so.

• A government employee is not allowed to accept a reward.

Which of the following is not a required element of a contract?

• Mutual Agreement

• Offer and Acceptance

• Consideration

• Cash Value Exchange

True or false: A contract between two parties for illegal activities is not valid.

• True

• False

Offering a reward to anyone who can return your lost pet is an example of a...

• Bilateral contract

• Unilateral contract

Which of the following is a remedy to a breached contract?

• Money Damages

• Restitution

• Specific Performance

• All of the above

An essential term within a contract is known as a _________

True or false: The Postal Rule states acceptance takes effect when it is received by the offeror

• True

• False