Contract Law Revision

Which case illustrates the requirement of 'meeting of minds' in contract formation?

• Carlill v Carbolic Smoke Ball Co

• Raffles v Wichelhaus

• Taylor v Caldwell

• Chatime v Tealive

What distinguishes an option contract from a standard offer?

• No communication required

• It is always bilateral

• Consideration is given to keep the offer open

• It cannot be revoked

What is the legal effect of an invitation to treat?

• It forms a binding contract

• It constitutes an offer

• It is an invitation to negotiate

• It is a counter-offer

Under what conditions can an offer be revoked?

• After acceptance

• Before acceptance

• After performance

• Anytime

In which scenario would past consideration be allowed?

• A voluntary act without request

• The act is provided after the contract

• An act requested by the promisor before the act

• Consideration given by a third party

How does Malaysian law treat contracts involving minors?

• Always void

• Voidable at minor's option

• Valid if for necessities

• Valid without exceptions

Which is a critical difference between express and implied terms in contracts?

• Express terms are always written

• Implied terms are not legally binding

• Express terms are explicitly agreed upon

• Implied terms must be in writing

What is required for the enforcement of a specific performance remedy?

• Monetary damages must be insufficient

• The contract must involve sale of land

• A breach must be intentional

• The defendant must be insolvent

Which of the following would constitute a breach of contract?

• Failure to perform

• Complete performance

• Disabling oneself from performing

• Refusal to perform

What distinguishes compensatory damages from nominal damages?

• Compensatory damages are punitive

• Nominal damages signify no substantial loss

• Both are awarded for actual losses

• Nominal damages exceed compensatory damages