Contract Law Quiz

What is required to form a valid contract?

• Offer, acceptance, and capacity

• Offer, acceptance, and intention to create legal relations

• Offer, acceptance, and consideration

• Offer, acceptance, and certainty of terms

Which of the following is a necessary element for an offer to be valid?

• It must be communicated to the offeree

• It must be accepted immediately

• It must be in writing

• It must be made by a lawyer

Can an invitation to treat be considered an offer?

• Yes

• No

What constitutes acceptance of an offer?

• Any form of communication from the offeree

• Silence or inaction by the offeree

• Mirror-image acceptance

• Unconditional agreement to the terms of the offer

Which of the following is an example of a unilateral contract?

• Sale of goods at a fixed price

• Employment contract

• Reward for finding a lost item

• Lease agreement

Can past consideration be valid in forming a contract?

• Yes, always

• Yes, but only if it is expressly stated in the contract

• No, never

• It depends on the circumstances

In a contract, what does "consideration" refer to?

• The price paid for goods or services

• The intention of the parties to be legally bound

• Something of value exchanged between the parties

• The terms and conditions of the contract

What happens if an offer is revoked before it is accepted?

• The offer remains valid until accepted

• The offer becomes void

• The offer can still be accepted within a reasonable time

• The offeror is liable for breach of contract

Can acceptance be communicated by conduct?

• Yes, always

• Yes, but only if the offer specifies that conduct can constitute acceptance

• No, never

• It depends

What is the postal rule?

• Acceptance is effective upon dispatch, not upon receipt

• Acceptance is effective upon receipt, not upon dispatch

• Acceptance is effective only if sent by registered mail

• Acceptance is effective only if sent by courier