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WorksheetsLaw of Contract (ICEPS)
Total questions: 20
Worksheet time: 11mins
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
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 not a required element of a contract.
Mutual Assent
Offer and Acceptance
Consideration
Cash Value Exchange
Which of the following is not a required element of a contract.
Mutual Assent
Offer and Acceptance
Consideration
Cash Value Exchange
What is a contract?
man made law
legally binding agreement between parties
rules for contract
binding agreement
What are the types of contract?
binding contract, law contract and agreement
valid contract, contract validity, voidable contract
valid contract, void contract and voidable contract
municipal contract, bilateral contract and void contract
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
Does silence is consider as acceptance to the proposal?
(a)
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
How many types of consideration are there?
1
2
3
4
Every person in Malaysia attains the age of majority at...
17 yrs
18 yrs
19 yrs
25 yrs
In an auction session, when does the acceptance takes place?
When bidders make bids
When the auctioneer knocks his hammer confirming the highest bid
when the bidder wins the bid
When full payment of the item is payed
Which section allows a person to sell his horse worth RM1000 for only RM10?
S.3 Contracts Act
S,5 Contracts Act
S.26 Contracts Act
S.28 Contracts Act
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
Advertisements made by manufacturers are considered as ...
offers
invitation to treat
past consideration
executory consideration
What is contract discharge by agreement?
elements of offer and acceptance.
voidable contract at the options of parties of contract.
a thing may be destroyed in the same manner in which it is constituted.
halfway contract
