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WorksheetsLaw Chapter 5 Exam
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
An oral contract is not enforceable at law.
a)
True
b)
False
2.
Advertisement in newspapers, price tags, and signs in store windows are treated by the law as invitations to negotiate.
a)
True
b)
False
3.
An acceptance of an offer to sell goods may not change the terms of the offer if both offeror and offeree are nonmerchants
a)
True
b)
False
4.
A valid contract must contain only four of the six elements of a contract.
a)
True
b)
False
5.
Consideration is the legal ability to enter a contract.
a)
True
b)
False
6.
The taking back of an offer by the offeror is
a)
revocation
b)
rejection
c)
cancellation
d)
consideration
7.
A contract that amounts to nothing and has o legal effect is
a)
unenforceable
b)
voidable
c)
void
d)
unilateral
8.
A contract is ___________ if it can be canceled by one of the parties.
a)
void
b)
voidable
c)
enforceable
d)
unenforceable
9.
A contract that contains a promise by bother parties is
a)
express
b)
implied
c)
bilateral
d)
unilateral
10.
To be effective, an offer must be communicated to the
a)
attorney
b)
offeree
c)
lender
d)
offeror
11.
If a valid offer is met with a valid acceptance, the result is
a)
misrepresentation
b)
genuine agreement
c)
legality
d)
capacity
12.
Any agreement enforceable by law is a(n) _____.
a)
offer
b)
counteroffer
c)
contract
d)
legal consideration
13.
People sometimes enter into _____________ contracts without exchanging a world.
a)
Expressed
b)
Implied
c)
Voidable
d)
Void
14.
Requesting a change in terms in a contract is the same as making a ______________.
a)
voidable offer
b)
implied offer
c)
counteroffer
d)
expressed offer
15.
The offeree's refusal, or __________ of an offer ends that offer.
a)
unenforceable offer
b)
revocation
c)
voidable
d)
rejection
16.
A contract is _________ if the court can not uphold it because of some rule of law.
a)
unenforceable
b)
enforceable
c)
voidable
d)
void
17.
A (n) _________ contract is stated in words and may be either oral or written.
a)
expressed
b)
implied
c)
misrepresented
d)
valid
18.
An offer must be definite, communicated to the offeree and _______________ .
a)
spoken clearly
b)
in writing
c)
seriously intended
d)
legally effective
19.
A contract in Business can be represented by the capital letter ___.
a)
C
b)
K
c)
P
d)
D
20.
A contract is voidable if it can be canceled by at least one party in the contract.
a)
True
b)
False
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