What is the definition of a contract?

Contract Law Quiz (IJN)

Quiz
•
English
•
University
•
Medium
NUR NAZAM
Used 2+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A verbal agreement without legal consequences
An informal understanding
A casual promise between friends
An agreement enforceable by law
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the basic elements of a contract?
Offer, acceptance, intentions to create legal relations, consideration, certainty, capacity
Offer, acceptance, money exchange, verbal agreement, written contract, signatures
Intentions to create legal relations, consideration, capacity, performance, payment, certainty
Offer, acceptance, intentions to create legal relations, consideration, capacity, performance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between an offer and an invitation to treat?
An invitation to treat is legally binding while an offer is not
An invitation to treat is made by the offeree while an offer is made by the offeror
An offer is a definite promise while an invitation to treat invites offers
An offer is made to the public while an invitation to treat is private
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When is an offer considered valid?
When it is made privately without witnesses
When it is vague and uncertain
When it is clear, definite, and communicated to the offeree
When it is implied but not expressed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the concept of consideration in a contract?
The legal advice given before entering a contract
The initial deposit made before signing a contract
The negotiation process leading to a contract
The value exchanged between parties in a contract
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does certainty mean in contract law?
The terms of the agreement must be clear and unambiguous
The contract must be certain to be legally binding
The contract must be certain to lead to a successful outcome
The parties must be certain about their decision to enter a contract
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of understanding the elements of a contract?
To confuse the parties involved
To protect one's interests and ensure fair outcomes
To complicate business transactions
To avoid legal consequences
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