Elements of Contracts

Elements of Contracts

11th Grade

15 Qs

quiz-placeholder

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Elements of Contracts

Elements of Contracts

Assessment

Interactive Video

Social Studies

11th Grade

Easy

Created by

Manuel Escarda

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three basic elements of an enforceable contract?

Offer, acceptance, and consideration

Offer, acceptance, and mutual assent

Consideration, mutual assent, and legality

Offer, legality, and performance

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the case of Lucy vs. Zamer, what was the court's main consideration?

The subjective intent of the promisor

The financial status of the parties

The objective manifestation of intent

The location of the agreement

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'indefiniteness' refer to in contract law?

The lack of a written contract

The failure to perform contractual duties

Missing or unclear terms in a contract

The absence of mutual assent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key requirement for an offer to be valid?

It must include a price

It must be communicated to the offeree

It must be accepted immediately

It must be in writing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are advertisements generally not considered offers?

They lack specific terms

They are too expensive to enforce

They are invitations to negotiate

They are not legally binding

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following can terminate an offer?

Performance

Revocation

Consideration

Acceptance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an option contract?

A contract that can be terminated at any time

A contract that requires no consideration

A contract that is automatically renewed

A contract that keeps an offer open for a period

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