Quiz on Contract Law

A contract is best described as:

• Any agreement between two people

• An agreement enforceable by law

• A written promise only

• An agreement without consideration

Every contract is based on:

• Intention only

• Agreement only

• Agreement + Legal enforceability

• Consideration only

A contract must have:

• Illegal object

• Free consent

• Minor as a party

• Uncertain terms

Consent obtained by fraud makes the contract:

• Valid

• Void

• Voidable

• Enforceable

A valid contract requires parties to be:

• Minors

• Competent to contract

• Illiterate persons

• Government employees only

If the purpose of a contract is unlawful, the contract is:

• Valid

• Void

• Voidable

• Enforceable

A contract without consideration is generally:

• Valid

• Void

• Binding

• Enforceable

A proposal when accepted becomes:

• Promise

• Agreement

• Consideration

• Contract

In the process of contract, consideration means:

• A promise without return

• Something of value exchanged

• A free service

• A gift

An offer made and accepted with intention to create legal relationship becomes:

• Social agreement

• Valid contract

• Voidable agreement

• Domestic agreement