ESSF0074 - Tutorial (Section 4)

Which of the following is a key characteristic that distinguishes a contract from a mere promise?

• Intention to create legal relations

• Oral agreement

• Written documentation

• Informal discussions

A promise that is not supported by consideration is

• Enforceable

• A contract

• A mere promise

• Legally binding

Which of the following statements is true regarding mere promises?

• They are always enforceable in court

• They require consideration to be binding

• They can be legally binding if made in writing

• They are not legally binding unless supported by consideration

In which scenario would a mere promise likely be enforceable?

• A promise made in jest

• A promise made to a friend without consideration

• A promise made in a formal contract

• A promise made in a commercial context

Which of the following is NOT a requirement for a contract to be formed?

• Offer

• Acceptance

• Written form

• Consideration

A __________ is an agreement that is not legally enforceable due to the lack of consideration.

For a promise to be considered a contract, it must be supported by __________, which refers to something of value exchanged between the parties.

The intention to create legal relations is a crucial factor that distinguishes a mere promise from a __________.

In a legal context, a __________ is a statement made by one party that indicates a willingness to enter into a contract.

A promise made in a social context, such as a promise to attend a friend's wedding, is generally considered a __________ rather than a contract.