Contract Law Fundamentals
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Questions and Answers

Which of the following is NOT one of the essential elements of a contract?

  • Acceptance
  • Consideration
  • Performance (correct)
  • Offer

    • What is the main difference between a spoken contract and a written contract?

  • Written contracts require more witnesses
  • Written contracts are not legally binding (correct)
  • Spoken contracts require more witnesses
  • Spoken contracts are not legally binding

    • Why was Patrick's contract not enforceable?

  • There was no consideration
  • The offer was not accepted
  • The contract was not in writing
  • The buyer was a minor (correct)

    • What is an offer in the context of a contract?

    <p>A promise and a demand</p> Signup and view all the answers

    What is acceptance in the context of a contract?

    <p>The agreement to the terms</p> Signup and view all the answers

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