Contract Law - Unit 3

Front

What is the main topic of Unit 3?

Back

Contract Law

Front

Fill in the blank: Unit 3 focuses on ________ Law.

Back

Contract

Front

What is a contract?

Back

Any agreement enforceable at law

Front

Which element of a contract ensures that both parties have agreed to the terms?

Back

Genuine Agreement

Front

In contract law, an 'Offer' is a proposal by one party to another intended to create a _________.

Back

legally binding contract

Front

Which of the following best describes an 'Offer'? A casual suggestion, A legally binding contract, A proposal by one party to another, A non-binding agreement.

Back

A proposal by one party to another

Front

Which of the following is true about contracts? A) They must always be in writing B) They can include illegal terms C) They cannot include illegal acts D) They are always verbal.

Back

They cannot include illegal acts.

Front

What is an Express Contract?

Back

A contract stated in words, either oral or written.

Front

A written contract allows parties to know the exact terms of the contract and provide proof it was made. True or False?

Back

True

Front

Which of the following statements is true about serious intent?
It can be made as a joke.
It cannot be made in the heat of anger.
It is always an invitation to negotiate.
It is the same as a newspaper advertisement.

Back

It cannot be made in the heat of anger.