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Worksheetscontract
Total questions: 25
Worksheet time: 13mins
After talking to salesperson on the phone, John agree to buy a set of necklace. What type of contract is this?
oral
written
valid
unenforceable
what is the general rule of postal acceptance?
When the seal of the letter is broken by the offeror
When the letter is posted by the offeree.
When offeror gets notification from the royal mail or Courier that his letter has been received.
The offer will be accepted once the letter is received by the offeror.
Mary-Soo offers to sell John-Doh his speakers for $20, 000 but John-Doh says he is willing to pay $15,000. This is an example of
an executory consideration
an invitation to treat
a counter offer
a contract
A contract entered into with a minor to advance his Education or training is a
valid contract
unenforceable contract
void contract
voidable contract
What is needed to form a legally binding contract?
Duty, Breach, Causation Damages
Offer, Acceptance, Consideration, Intention, Certainty
Offer, Acceptance, Collateral, Sufficiency
Invitation to treat, Offer, Counter Offer, Acceptance
Which of the following describes a revocation or termination of an offer?
Rejection
Failure to satisfy or perform conditions.
Counter offer or rejection of the offer.
The offer may be terminated by passage of time or death of the offeree/offeror
All of the above are correct
committing an act of violence to obtain a signature on a written contract is coercion.
False
True
Which of the following is NOT a remedy for breach of contract
injunction
sue for damages
specific performance
frustration
Statements stated as facts made to induce a party to enter into a contract but are really untrue are considered as
fraudulent terms
common mistakes
misrepresentation
unilateral mistake
Matthew purchases a rare antique piece for $5,000. The contract was signed by both parties. In this scenario, who is Matthew?
offer
offeree
acceptor
offeror
What is the definition of an invitation to treat? Select all options that apply!
An invitation to the other party to make an offer.
An invitation to another party to negotiate.
It is not an offer, it falls short of being an offer
An indication of one party's willingness to enter into a contract with the party to whom its addressed as soon as the latter accepts its terms.
The material value given by one party to another in return for a benefit received in a simple contract is called
a proposal
an acceptance
a consideration
an offer
Paul has a contract to buy a car from Paula. Paul realised he cannot afford the car. After signing the contract. Paula wishes she had not contracted to sell the car to Paul.They both decide to terminate the contract by what method.
performance
breach
mutual agreement
Kylo offers a reward to anyone who finds his passport and returns it. This is an example of
an offer to the world at large
an extended offer
an invitation to treat
an implied offer
A simple contract is one that
is signed . sealed and delivered
is very easy to formed
is valid for a minor
must have form or consideration
What is the definition of offer?
An expression of willingness to negotiate.
An invitation for other parties to consider whether they are able to purchase the good/services.
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 item displayed in a store with price tag is an example in law of
an invitation to treat
a counter offer
an offer for sale
a loss leader
A valid acceptance must be
qualified and conditional
absolute and conditional
total and conditional
absolute and unconditional
A breach of contract occurs when
one party to the contract fails to carry out his side of the agreement.
one party to the contract is a minor.
one party to the contract substitute a lower grade contract for a higher one.
one party to the contract carries out his part of the agreement.
What is a counter offer?
A further offer made by the original offer.
Where a party seeks to introduce a secondary or ancillary agreement to the original contract.
Where a party seek to change or vary terms of the original offer or seeks to introduce a new term (s).
A rejection and withdrawal of the original offer
A contract is generally based on:
assets passing from person to person.
agreement between two or more parties.
exchanging goods and services.
a promise to do certain things
An implied condition in a contract is one which is :l
legal in the court of law
agreed by two parties
written within the body of the contract
hidden, not actually stated or written down anywhere
A specialty contract can be described as one which:
has alot of conditions
is typed in capital letters
is signed, sealed and delivered
is written very clearly
A hire purchase contract is an example of:
an oral contract
a specialty contract
an implied contract
an agreement between the buyer and the seller
Termination of contract can be achieved by all of the following ways except:
taking unilateral action
mutual agreement of both parties
completing performance
the death of one party
