Contract Law Quiz

Which of the following is not one of the major requirements for a contract?

• offer and accommodation

• genuine assent

• capacity

• consideration

Which of the following is not a test that a valid offer must pass?

• Is contractual intent present in the offer?

• Are the essential terms of the offer complete and definite?

• Is the offer a solemn offer and not made in jest?

• All of the above are tests that a valid offer must pass.

An unaccepted offer may be terminated by

• a counteroffer

• a reasonable length of time

• the rejection of the offeree

• all of these.

Which of the following circumstances might render an acceptance invalid?

• The offer is accepted by someone other than the offeree

• The acceptance does not match the offer

• both a and b

• none of these

A contract in which performance alone is acceptance is termed a(n) ____.

• unilateral contract

• bilateral contract

• multilateral contract

• none of these

Capacity to contract means that the person

• has a genuine need for the goods or services purchased

• has ample room to store goods that are purchased

• has the ability, according to law, to understand the contract and the consequences thereof

• all of these

Offers that require the offeree to accept by communicating the requested promise to the offeror are

• unilateral contracts

• bilateral contracts

• matching offer contracts

• mirror image rules

If the court requires that the terms of the acceptance exactly match the terms contained in the offer in order for the contract to be legally enforceable, the court is imposing the

• unilateral rule

• bilateral rule

• matching acceptance rule

• mirror image rule

Advertisements in newspapers, radio, television, and direct mailings are considered to be

• valid offers

• contracts

• invitations to negotiate

• none of the above

Nearly all offers must, at a minimum, identify

• the price, subject matter, and date of contracting

• the price, subject matter, and quantity

• the subject matter, date of closing, and quantity

• the price, quantity, and date of closing