Worksheetslaw of contract
Total questions: 33
Worksheet time: 20mins
Which of the following is not a required element of a contract.
Mutual Assent
Offer and Acceptance
Consideration
Cash Value Exchange
Person's ability to satisfy the elements required for someone to enter binding contracts
Consideration
Mutual Assent
Capacity
Offer and Acceptance
A contract between two parties for illegal activities is not valid.
True
False
A minor has the capacity to contract when...
Always
Only valid on contracts valuing over $1 Million
For necessities like food, clothing, and lodging
It depends on the state you live in
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.
Which of the following is the most common/ acceptable reason to discharge a contract.
Performance
Fraud
Breach
Agreement
Which of the following is a remedy to a breached contract?
Money Damages
Restitution
Specific Performance
All of the above
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
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.
What is the definition of an invitation to treat?
Select all options that apply!
An invitation to another party to negotiate.
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.
It is not an offer, it falls short of being an offer.
An invitation to the other party to make an offer.
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.
What is a counter offer?
A further offer made by the original offeror.
Where a party seeks to introduce a secondary or ancillary agreement to the original contract.
Where a party seeks 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.
Which one is NOT invitation to treat?
Does silent is amount to an acceptance?
Yes
No
Maybe
In order for _______________ to be present in a contract, the offeree must say or do something to accept.
Void
Bilateral
Acceptance
Writing
Which of the following is an element of a contract?
Oferror
Capacity
Counter-offer
Invitation to treat
Jonas offered to sell his watch to Emily for RM300. Emily agreed to buy the watch at RM200. Emily is making _______________________.
An offer
An acceptance
A counter-offer
An invitation to treat
A contract may be discharged by __________________________.
Frustration
Undue influence
Coercion
Specific performance
____________________________ means the court’s estimated compensation in money for injury sustained by plaintiff.
Injunction
Quantum Meruit
Damages
Specific performance
Agreements that are legally binding are called?
policies
transaction
contracts
domestic arrangement
A counter offer is an offer made in response to a previous offer.
True
False
David invited his friend Adrian to his birthday party; Adrian agreed to attend the party. This is an example of a social/domestic agreement and not a contract.
True
False
In the event that a party who had contracted to sell his/her home to the purchaser subsequently refuses to perform his/her side of the bargain, which of the following remedies would the courts most likely award?
Damages
Injunction
Restitution
Specific Performance
What is Specific Performance?
to correct the breach by forcing the breaching party to complete the terms of the agreement.
to compel a party to perform his contractual obligations
equitable remedy granted at the court's discretion.
to recover money for services or goods supplied to a defendant
The type of damages in tort awarded for loss which the claimant must expressly prove he has suffered are called:
Normal Damages
General Damages
Special Damages
Nominal Damages
