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Contract Law Quiz

Authored by Eileen Pesantes

Professional Development

University

Used 2+ times

Contract Law Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A contract is an agreement were one party offers to perform a task or provide goods or services to the other party.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a necessary element of a valid contract?

Agreement

Competent Parties

Consideration

Warranty

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two components of an Agreement in a valid contract?

Offer and Consideration

Offer and Acceptance

Acceptance and Form

Consideration and Form

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which element of a valid contract involves the exchange of something of value between the parties?

Agreement

Competent Parties

Consideration

Form

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are considered offers?

Bids and proposals.

Advertisements.

Invitations for bids.

Requests for proposals.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is NOT a requirement for the format of an offer?

A) As specified in IFB, RFP or advertisements

B) As required by law

C) Must be written

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For how long is an offer valid?

A) As stipulated in IFB, RFP or advertisements

B) Until accepted

C) Until withdrawn

D) Both A and C

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