Business Law - Tutorial 2

What is a contract?

• an agreement between two parties that is legally binding between them

• an agreement

• an agreement that is not legally binding

• an agreement that is not enforceable by law

which are elements of valid contract?

• offer

• acceptance

• consideration

• must be a male

"a proposal made to another" - this definition refers to?

• acceptance

• offer

• consideration

• consent

what is unilateral contract?

• one party make the offer and the other merely perform the act

• both parties make promise to each other

"Whoever found my purse, will get RM500" - This statement refers to what type of contract?

• unilateral

• bilateral

• multilateral

Which are forms of contract?

• Writting

• Verbal

• conduct

• All answer

" offer must be communicated."

YES or NO

• YES

• NO