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WorksheetsContracts
Total questions: 20
Worksheet time: 20mins
Name
Class
Date
1.
The taking back of an offer by the offeror is called
a)
revocation
b)
rejection
c)
cancellation
d)
consideration
2.
The person making the offer is called the
a)
Offeree
b)
Offeror
c)
Sender
d)
Giver
3.
The person receiving the offer is referred to as the
a)
offeror
b)
offeree
c)
receiver
d)
acceptor
4.
A contract that amounts to nothing and has no legal effect is
a)
unenforceable
b)
voidable
c)
void
d)
unilateral
5.
Which of the following is not 1 of the 6 elements of a contract?
a)
capacity
b)
consideration
c)
valid
d)
genuine agreement
6.
This element refers to someones mental ability to enter into an contract.
a)
consideration
b)
legality
c)
capacity
d)
genuine agreement
7.
Which of the following is not one of the requirements of a valid offer?
a)
made seriously
b)
definite and certain
c)
put in writing
d)
communicated to offeree
8.
A contract that contains a promise by both parties is
a)
expressed
b)
implied
c)
bilateral
d)
unilateral
9.
To be effective, an offer must be communicated to the
a)
attorney
b)
offeree
c)
lender
d)
offeror
10.
If a valid offer is met with a valid acceptance, the result is
a)
misrepresentation
b)
genuine agreement
c)
legality
d)
capacity
11.
A reward offer is an example of what type of a contract?
a)
bilateral
b)
implied
c)
unilateral
d)
void
12.
A voidable contract
a)
has no seal
b)
is not in writing
c)
has no legal effect at all
d)
can be voided by at least 1 of the parties
13.
Under this rule, the acceptance must not change the terms of the original offer.
a)
counteroffer
b)
mirror image
c)
formalist theory
d)
bilateral
14.
People sometimes enter into these contracts without exchanging a word. Occurs when we get gas sometimes.
a)
expressed
b)
implied
c)
bilateral
d)
unilateral
15.
Which of the following is not one of the ways to terminate an offer?
a)
revocation
b)
rejection
c)
counteroffer
d)
All are ways to terminate an offer
16.
What would the following be considered:
Black Friday Deal Sony 60" Flat screen TV $499 (10 at each store)
Black Friday Deal Sony 60" Flat screen TV $499 (10 at each store)
a)
offer
b)
invitation to negotiate
c)
neither
17.
Who did President Obama nominate to fill the Supreme Court Vacancy?
a)
Marty Garner
b)
Merrick Garland
c)
Judge Judy
d)
Michael Williams
18.
In order to enter into a contract you must how old do you have to be for it to be enforceable in court?
a)
21
b)
19
c)
18
d)
16
19.
In Ohio, in order for a contract to be enforceable it has to be in writing for all transactions valued over how much?
a)
$1000
b)
$100
c)
$500
d)
$5000
20.
A contract to hire a hit man would be unenforceable because of what missing element?
a)
consideration
b)
capacity
c)
genuine agreement
d)
legality
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