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Worksheetscontract law - offer and acceptance -2
Total questions: 21
Worksheet time: 14mins
Which of the following is NOT an essential element of a valid contract?
A The contract must be in writing
B The parties must be in agreement
C Each party must provide consideration
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 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.
What is the general rule of the postal acceptance rule?
The offer will be accepted once the letter is received by the offeror.
When the seal of the letter is broken by the offeror.
When the letter is posted by the offeree.
When the offeree gets notification from the Royal Mail or Courier that his letter has been received.
Offer, acceptance and consideration are all parts of a
Covers
Loans
Applications
Contract
True or false:
The postal rule applies to modern, instantaneous forms of communication.
True
False
The terms of a contract must be accepted by the party to whom it was communicated.
True
False
Withdrawal of an offer before acceptance is
revocation
rejection
counteroffer
termination
A contract is an/a _____enforceable by law
agreement
proposal
decree
promise
The following are the situations for an invitation to treat except...
a price list
an advertisement
a display of goods with a price tags
a letter of offer for an employment
A counter offer has the effect of ...
mitigating the defendant's loss
making an invitation to treat
completing the contract
rejecting the original offer
When can an offer be revoked by the offeror?
After an acceptance is made
Before an acceptance is made
After consideration moves between the parties
Before consideration moves between the parties
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.
What is a contract?
man made law
legally binding agreement between parties
rules for contract
binding agreement
What are the elements to form a valid contract?nd capacity
offer, acceptance, intention to create legal relation, consideration
offer, acceptance, invitation to treat, consideration, capacity
offer, acceptance, consideration, intention to create legal relation, capacity
offer, acceptance, benefit, competency, invitation to treat
