Recap on Contract law

What is an offer in contract law?

• A promise to pay
• A proposal made with intention for acceptance
• A signed agreement
• A verbal agreement

What is acceptance in contract law?

• A statement of intention to enter into a contract
• A withdrawal of an offer
• An agreement on all terms of the offer
• A counteroffer

What is consideration in contract law?

• A request for payment
• Something of value exchanged between parties
• A contract breach
• A contract termination

What is an invitation to treat in contract law?

• An offer
• A request for consideration
• A preliminary communication indicating a willingness to negotiate
• A legally binding contract

What is capacity in contract law?

• The ability to understand the terms of a contract
• The monetary value of a contract
• The length of a contract
• The location of a contract

What is misrepresentation in contract law?

• Intentional deceit or false statement made by one party to another
• An enforceable promise made in bad faith
• A contract breach
• A contract termination

What is frustration of contract in contract law?

• A contract termination due to unforeseen circumstances
• A breach of contract
• A misunderstanding of terms
• A counteroffer

What is a condition in a contract?

• A minor detail in the contract
• An essential term of a contract that must be fulfilled for the contract to be binding
• An optional term in a contract
• A verbal agreement

What is privity of contract in contract law?

• The relationship between parties to a contract
• The payment terms of a contract
• A breach of contract
• The location of a contract

What is breach of contract in contract law?

• A failure to meet the terms of a contract
• A negotiation tactic
• A change in contract terms
• A valid termination of contract