Contracts

The taking back of an offer by the offeror is called

• revocation
• rejection
• cancellation
• consideration

The person making the offer is called the 

• Offeree
• Offeror
• Sender
• Giver

The person receiving the offer is referred to as the 

• offeror
• offeree
• receiver
• acceptor

A contract that amounts to nothing and has no legal effect is 

• unenforceable
• voidable
• void
• unilateral

Which of the following is not 1 of the 6 elements of a contract?

• capacity
• consideration
• valid
• genuine agreement

This element refers to someones mental ability to enter into an contract.

• consideration
• legality
• capacity
• genuine agreement

Which of the following is not one of the requirements of a valid offer?

• made seriously
• definite and certain
• put in writing
• communicated to offeree

A contract that contains a promise by both parties is 

• expressed
• implied
• bilateral
• unilateral

To be effective, an offer must be communicated to the 

• attorney
• offeree
• lender
• offeror

If a valid offer is met with a valid acceptance, the result is

• misrepresentation
• genuine agreement
• legality
• capacity