
Understanding Contract Basics
Authored by Craig de Courcey
Social Studies
11th Grade
Used 1+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes an 'offer' in contract law?
A suggestion that cannot be accepted
A definite proposal made with the intention to be bound if accepted
A casual conversation about a possible agreement
An invitation to treat
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'acceptance' in the context of forming a contract?
A counter-offer
An agreement to all terms of the offer without changes
A rejection of the offer
A request for more information
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT required for a valid contract?
Offer
Consideration
Written document
Intention to create legal relations
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Australian contract law, what does 'consideration' mean?
A polite conversation
Something of value exchanged between parties
A written agreement
A legal penalty
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an invitation to treat?
A shop displaying goods with price tags
A person saying, "I will sell you my bike for \$100"
Signing a contract
Paying for an item at the checkout
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about consideration is TRUE?
Consideration must be adequate in value
Consideration must move from the promisee
Consideration can be past consideration
Consideration is not necessary in Australian contracts
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would most likely NOT be considered a valid offer?
"I will sell you my car for \$5,000."
"Would you be interested in buying my car?"
"I offer to sell you my car for \$5,000."
"If you pay me \$5,000, I will sell you my car."
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