BL Contract - Exercise

An acceptance must be expressed in some usual and reasonable manner, absolute and

• clear.

• unqualified.

• suitable.

• qualified.

An agreement without consideration is

• valid.

• acceptable.

• void.

• voidable.

Advertisements are normally considered to be

• offers

• invitations to treat

• binding

• acceptance

Revocation of an offer by post is valid and binding once the letter of revocation is placed in the mailbox.

• True

• False

The following are the essential elements for a valid and binding contract, EXCEPT:

• the prescribed formalities.

• the objective of the contract.

• the capacities of the parties.

• the consideration of the contract.

Which of the following statements is NOT TRUE?

• The offeree is the person making the offer.

• The offeror is the person making the offer.

• The promisor is the person making the offer.

• The offeree is the person accepting the offer.

Which of the following statements is NOT TRUE?

• There is no difference in law between an offer and an invitation to treat.

• An offer is a set of terms by which the offeror is willing to be bound.

• In bilateral contracts, the parties exchange promises.

• Acceptance in contract may take effect through conduct and need not necessarily be communicated.

A minor cannot make a valid contract except for contracts of employment, banking and finance.

• True

• False

Acceptance of an offer is effective although it has not been communicated to the offeror.

• True

• False

Unilateral offers can never be revoked.

• True

• False