chap B

What is the definition of a contract under civil law?

• A promise to exchange gifts between friends

• An agreement between parties for criminal liability

• An agreement between parties regarding the creation, modification, or termination of civil rights and obligations

• A document issued by the court

Which of the following is NOT a characteristic of a contract?

• It must be formed voluntarily and equally by the parties

• It arises from a criminal act

• It creates, modifies, or terminates legal rights and obligations

• It is primarily concerned with the material interests of the parties

When does a legally concluded contract become effective?

• From the time of its conclusion, unless otherwise agreed or prescribed by law

• When the government approves

• Immediately after payment

• Only after one party withdraws

Which statement is true about written contracts?

• They include traditional and electronic forms, and are easier to enforce

• They are only valid if notarized

• They are informal and not legally binding

• They are only valid for employment agreements

An oral or verbal contract means:

• The contract is only valid if recorded

• The agreement is made through spoken communication

• It must be written and signed by both parties

• The contract is based only on body language

When is the form of a civil transaction considered a condition for its effectiveness?

• When required by law

• When there is a thought involved

• When the transaction is written

• When the parties are from different provinces

What best defines an offer in contract law according to Article 386 of the Civil Code 2015?

• A final contract between two parties

• An advertisement to the public

• A clear expression of the offeror’s intention to enter into a contract with a specific party or the public

• A discussion about contract terms

Which of the following does NOT lead to the termination of an offer?

• Rejection by the offeree

• Acceptance by the offeree

• Lapse of time for acceptance

• The offeree’s silence

Which of the following best describes an invitation to treat?

• A binding legal commitment

• A formal proposal that must be accepted

• An informal invitation for customers to make an offer

• A final contract signed by both parties

According to Article 393.2, the silence of the offeree is considered acceptance:

• If agreed by parties or based on established practice

• If the offeror says so

• Always

• Only in written contracts