Law of Contract Quiz

What is the nature of a contract?

• A piece of paper

• A negotiation process

• A legally binding promise

• A private relationship

What are the essential elements of a valid contract?

• Agreement, promise, and exchange

• Negotiation, sign something, and small print

• Piece of paper, writing, and small print

• Private relationship, negotiation, and sign something

What is the distinction between an invitation to treat and an offer?

• An invitation to treat is a legally binding promise, while an offer is a negotiation process

• An invitation to treat is a private relationship, while an offer is a piece of paper

• An invitation to treat is a negotiation process, while an offer is a legally binding promise

• An invitation to treat is a sign something, while an offer is a small print

What are the principal rules relating to offers?

• Express, implied, imputed, and constructed

• Reciprocated, requested performance, and deed

• Agreement, promise, and exchange

• Negotiation, sign something, and small print

What are the principal rules relating to acceptance and revocation?

• Agreement, promise, and exchange

• Express, implied, imputed, and constructed

• Reciprocated, requested performance, and deed

• Negotiation, sign something, and small print

What makes something 'contractual'?

• A piece of paper

• A negotiation process

• A legally binding promise

• A private relationship

How is a contract made?

• Agreement, consideration, and intention

• Negotiation, sign something, and small print

• A piece of paper

• A private relationship

What is a standard form contract?

• A negotiation process

• A private relationship

• A legally binding promise

• A contract with set terms that cannot be negotiated