Class Activity

A contract entered into under duress is voidable

• 1. 1. True

• 2. 2. False

A contract involving a mistake of fact can sometimes be avoided.

• 1. 1. True

• 2. 2. False

The taking back of an offer by the offeror is

• 1. 1. Revocation

• 2. 2. Rejection

• 3. 3. Cancellation

• 4. 4. Consideration

A contract that contains a promise by both parties is

• 1. 1. Express

• 2. 2. Implied

• 3. 3. Bilateral

• 4. 4. Unilateral

A valid contract must contain at least four of the six elements of a contract

• 1. 1. True

• 2. 2. False

An offer must be definite, communicated to the offeree and

• 1. 1. Signed

• 2. 2. Implied

• 3. 3. Serious Intended

• 4. 4. Timely

When a bilateral mistake is made, neither party may avoid the contract

• 1. 1. False

• 2. 2. True

Occurs when one party to a contract does not do what he/she agreed to do

• 1. 1.Breach

• 2. 2. Fraud

• 3. 3. Consideration

• 4. 4. Ratification

A deliberate deception to secure unfair or unlawful gain is

• 1. 1. Mispresentation

• 2. 2. Libel

• 3. 3. Unilateral Mistake

• 4. 4. Fraud

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

• 1. 1. Bilateral

• 2. 2. Voidable

• 3. 3. Void

• 4. 4. Unilateral