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WorksheetsLaw of Contract
Total questions: 30
Worksheet time: 30mins
What is required to form a legally binding contract?
Offer, Acceptance, Consideration, Intention, Certainty.
Duty, Breach, Causation, Damages
Offer, Acceptance, Collateral, Sufficiency.
Invitation to treat, Offer, Counter Offer, Acceptance.
What is the definition of an offer?
An expression of willingness to negotiate.
A declaration that one party will contract with another.
Expression of willingness to contract with the party to whom it is addressed, as soon as the latter accepts its terms.
An invitation for other parties to consider whether they are able to purchase the goods/services.
The purpose of contract needs to be for a lawful purpose.
TRUE
FALSE
_________________ is the legal ability to enter into a contract, so minors and those with mental impairments lack it.
Executory
Consent
Acceptance
Capacity
In an express contract, the two parties state all the important terms of their agreement.
TRUE
FALSE
In order for _______________ to be present in a contract, the offeree must say or do something to accept.
Void
Bilateral
Acceptance
Writing
A Valid contract is one that satisfies all of the law’s requirements.
TRUE
FALSE
In an implied contract, the words and conduct of the parties indicate that they intended an agreement.
TRUE
FALSE
Some types contracts cannot be enforced if they are not in ___________.
Bilateral
Writing
Acceptance
Void
_____________________ is the central idea that both parties in a contract need to benefit from it.
Consent
Implied
Unilateral
Consideration
A ____________ contract occurs when one of the parties commits fraud, or when an agreement has been signed under duress.
Valid
Voidable
Implied
Express
Offers can be terminated by revocation, rejection, expiration, and operation of law.
FALSE
TRUE
After talking to the salesman on the phone, Molley agree to buy a set of glassware. What type of contract is this?
Oral
Unenforceable
Valid
Written
Jim purchases a rare antique piece for $5,000. The contract was signed by both parties. in this scenario, who is Jim?
donee
donor
offeree
offeror
Jenn asked Lucas if he wanted to buy her car for $5,000. Who is Jenn is this transaction?
donee
donor
offeree
offeror
Lucas' agreeing to accept Jenn's proposal to sell her car is which element of a contract?
acceptance
consideration
rejection
revocation
Lauren, Avery, and Patrick, all age 15, enter into a contract, what term describes this type of contract?
bilateral
valid
void
voidable
Consideration is...
a set of mutual promises in which each party agrees to give up something to the benefit of the other.
The amount of time one has to accept an offer.
The 5 minutes following an offer that must elapse before an acceptance can take place.
The element of a contract that says the value of what each party is giving up must be equal.
Every person in Malaysia attains the age of majority at...
17 yrs
18 yrs
19 yrs
25 yrs
Advertisements made by manufacturers are considered as ...
offers
invitation to treat
past consideration
executory consideration
