A contract is an agreement were one party offers to perform a task or provide goods or services to the other party.

Contract Law Quiz

Quiz
•
Professional Development
•
University
•
Medium
Eileen Pesantes
Used 2+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a necessary element of a valid contract?
Agreement
Competent Parties
Consideration
Warranty
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two components of an Agreement in a valid contract?
Offer and Consideration
Offer and Acceptance
Acceptance and Form
Consideration and Form
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which element of a valid contract involves the exchange of something of value between the parties?
Agreement
Competent Parties
Consideration
Form
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are considered offers?
Bids and proposals.
Advertisements.
Invitations for bids.
Requests for proposals.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a requirement for the format of an offer?
A) As specified in IFB, RFP or advertisements
B) As required by law
C) Must be written
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
For how long is an offer valid?
A) As stipulated in IFB, RFP or advertisements
B) Until accepted
C) Until withdrawn
D) Both A and C
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