Contract Law Quiz

What is an offer in contract law?

• A proposal made by one person to another

• A legally binding agreement

• A request for payment

• A type of contract

What must happen for a contract to be formed?

• An offer must be unconditionally accepted

• The offer must be made in a public place

• The offer must be written

• Both parties must meet in person

How can an offer be communicated?

• Through a third party

• Orally, in writing, or implied

• Only verbally

• Only in writing

What is an invitation to treat?

• A legal requirement for contracts

• A type of acceptance

• A proposal for a contract

• An invitation for someone to make an offer

What does acceptance mean in contract law?

• Ignoring the offer

• Willingly accepting an offer

• Rejecting an offer

• Making a counter-offer

What must acceptance correspond to?

• Any terms the acceptor wants

• The original offer exactly

• A written document

• A verbal agreement only

What is consideration in a contract?

• The price or benefit received by parties

• The legal terms of the contract

• The duration of the contract

• The location where the contract is signed

What is an example of consideration?

• A promise to give a gift

• The exchange of a car for money

• A verbal agreement

• A handshake

What happens if the offeror revokes the offer?

• The contract is still valid

• The offer must be revoked before acceptance

• The acceptance is still valid

• The offer can be revoked anytime

What does 'unqualified acceptance' mean?

• Acceptance that is written only

• Acceptance that is verbal only

• Acceptance that matches the offer exactly

• Acceptance with new terms