Contracts
Quiz
•
Social Studies
•
11th Grade
•
Practice Problem
•
Hard
John Robinson
FREE Resource
Enhance your content in a minute
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An expressed contract
must be oral and written
stated in words and may be either oral or written
can only be stated in words
can only be written
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The thing of value promised to be exchanged by parties is known as....
Consideration
Capacity
Offer
Acceptance
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Not all agreements are contracts, but...
All contracts ARE agreements
All agreements are legally binding
An agreement can be changed after the contract is made
All offers are invitations to negotiate
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If a contract lacks one or more required elements, it is considered....
Valid
Void
Voidable
Illegal
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Jim hires Pam to paint a mural for $200. He gives her $100 up front, she paints the mural and gets the other $100. This is an example of a(n):
Express contract
Offer and acceptance
Bilateral contract
Unilateral contract
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An express contract is one that is:
Taking place in less than a year
Quick to perform
Created by the actions of the parties
Stated in words or writing
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a characteristic of a bilateral contract?
A) It involves two parties making promises to each other
B) It involves only one party making a promise
C) It is always written
D) It is always oral
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