Legal Aspects of A Business 2

1. What is the difference between an offer and an invitation to treat?

2. Examples of an invitation to treat/trade are

• Property being advertised for sale
• Advertisements for tenders
• Jobs being advertised
• All of the above

3. Distinguish between executed consideration and executory consideration

4. Legality of Form is the special form or manner of written agreements that make it legally binding.

• True
• False

5. State two (2) examples of legally binding contracts.

6. As it relates to contracts, what is "capacity"?

7. A contract is "free consent" if there is coercion, undue influence, fraud, misrepresentation, and mistake.

• True
• False