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WorksheetsBusiness Law - Chapter 4 Contracts
Total questions: 20
Worksheet time: 10mins
Advertisements are considered invitations to negotiate rather than offers.
True
False
Your friend has lost his iPhone and offers you a $50 reward if you find it. This is an example of a(n)
bilateral contract
unilateral contract
acceptance contract
revocation of a contract
If you wait too long to bring a lawsuit, the court may not uphold it because it could be
unenforceable
limited
voidable
fraudulent
Invitations to deal, trade, or make an offer by the seller are considered invitations
of legality
to negotiate
to make a counteroffer
for consideration
A contract that comes about from the action of the parties.
express contract
implied contract
unilateral contract
bilateral contract
The terms stated in the acceptance must match the terms of the offer
contract
offer
acceptance
mirror image rule
A refusal of an offer by the offeree that brings the offer to an end.
rejection
revocation
counteroffer
offer
A response to an offer that changes the terms of the original offer
contract
counteroffer
implied offer
unilateral contract
The taking back of an offer by the offerer
rejection
revocation
counteroffer
acceptance
A contract stated in words; may be written or oral.
offer
acceptance
express contract
implied contract
A contract that amounts to nothing and has no legal effect is
unenforceable
voidable
void
unilateral
