Contracts Review

At some point in my life, I have formed a contract or will form a contract in the future.

• True

• False

These are ways that a person can communicate an offer: Telephone, letter, telegram, fax machine, and email.

• True

• False

A bilateral mistake is when both parties to a contract are mistaken about some important fact. Also known as a mutual mistake.

• True

• False

People who cannot read English, but sign a contract written in English are not bound by that contract.

• True

• False

Capacity is when you DO NOT have the legal ability to enter a contract. 

• True

• False

Individuals can make a false representation by not saying something that they should say.

• True

• False

A unilateral mistake is when both parties make a mistake.

• True

• False

When a bilateral mistake is made, neither party may avoid the contract.

• True

• False

If the offeror dies or becomes instance after the offer is accepted, the offer comes to an end.

• True

• False

A bilateral contract contains one promise?

• True

• False