
Contract Law Basics
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Others
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University
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Arashdeep Kaur
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary objective of contract law?
To ensure that all agreements are legally binding.
To resolve disputes between parties.
To enforce rights and obligations arising from agreements.
To regulate the formation of agreements.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following contracts is not enforceable by law?
Valid Contract
Void Contract
Voidable Contract
Quasi-Contract
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true about an offer in contract law?
It must be communicated to the offeree.
It must be accepted immediately.
It can be made to a specific person or the public at large.
Both a) and c)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the difference between a valid and a void contract.
A valid contract is legally enforceable and meets all the necessary requirements, while a void contract is not legally binding from the beginning and has no legal effect.
A valid contract is not enforceable, while a void contract is legally binding.
A valid contract has no legal effect, while a void contract meets all requirements.
A valid contract is not legally binding, while a void contract is enforceable.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a voidable contract and how does it differ from a void contract?
A void contract can be enforced in court
A voidable contract is never valid
A voidable contract is always legally binding
A voidable contract is a valid agreement that can be declared void by one or both parties involved due to specific circumstances such as fraud or coercion. A void contract is not legally binding from the beginning, often due to the subject matter being illegal or against public policy.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Provide an overview of contingent contracts.
Contingent contracts are only valid if signed on a Tuesday
Contingent contracts are always fulfilled immediately
Contingent contracts have no legal standing
Contingent contracts are agreements that depend on the occurrence of a specific event in the future.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How would you distinguish between an agreement and a contract?
An agreement is verbal, while a contract is written.
An agreement is not legally enforceable, while a contract is enforceable by law.
An agreement is a mutual understanding, whereas a contract is a legally binding agreement.
An agreement is informal, while a contract is formal.
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