10 Questions
What is the main purpose of a contract?
To provide a clear and safe business relationship
What is 'Pacta sunt servanda' in relation to a contract?
An agreement must be kept
What does 'Meeting of Minds' refer to in the context of a contract?
Mutual agreement on essential terms
In English / US Law, what standard is used to determine agreement between parties in a contract?
Standard of reasonable person in similar circumstances
According to Storer vs. Manchester, what aspect is considered in contracts?
What the party said and did, not the actual intent in their mind
In the context of a contract, 'Pacta sunt servanda' refers to:
The principle that agreements must be kept
What is the primary purpose of a contract?
To provide a clear and safe business relationship
Which factor is essential for a meeting of minds in a contract?
Offer + Acceptance with agreement on essential terms
What does 'intention to create a legal obligation' signify in a contract?
The willingness of parties to be bound by the terms of the contract
In English / US Law, what standard is used to determine agreement between parties in a contract?
Standard of reasonable person in similar circumstances
Test your knowledge of contract law with this quiz covering the basics of English and Spanish contract law. Explore the key concepts and elements of a legally enforceable agreement, including promisors, promisees, consideration, and performance.
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