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Contract Law Quiz

Authored by Laura Burmeister

Business

10th Grade

Used 1+ times

Contract Law Quiz
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18 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the six elements required for a contract?

Offer

Acceptance

Consideration

Revocation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a contract called when it is legally good?

Void

Voidable

Valid

Unenforceable

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a bilateral contract, what do both parties promise to do?

Nothing

One party promises to act

Both parties promise to do something

Only one party promises to pay

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must an offer have to be considered valid?

Serious intent

Joking intent

Unconditional acceptance

Counteroffer

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for an acceptance to be unconditional?

It must be communicated to the offeror

It must be a counteroffer

It must be voidable

It must be implied

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a way an offer can be terminated?

Revocation

Rejection

Acceptance

Expiration of time

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when an offeree changes the terms of the offer?

Revocation

Rejection

Counteroffer

Expiration

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