Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

10 Questions

1 Views

Contract Terms and Conditions

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the point at which an acceptance becomes a promise?

When the offer is accepted (correct)

When the consideration is exchanged

When the contract is signed

When the offer is made

What is the primary purpose of a consideration in a contract?

To provide a benefit to one party

To establish the terms of the contract

To exchange something of value between the parties (correct)

To establish the liability of one party

What type of consideration may consist of a right or interest accruing to one party?

Contractual consideration

Valuable consideration (correct)

Monetary consideration

Legal consideration

What is the intention of the contracting party in a legally binding contract?

To create a legal obligation Signup and view all the answers

When is a contract considered effective in the example of MPH.COM.MY?

When MPH.COM.MY accepts the order by mail Signup and view all the answers

What is the additional electronic contract that regulates the contract between MPH.COM.MY and the customer?

Conditions of Sale Signup and view all the answers

What is the responsibility of the customer in the example of MPH.COM.MY?

To be aware of the existing additional terms Signup and view all the answers

What is the primary purpose of including additional terms in a contract?

To regulate the contract between the parties Signup and view all the answers

What is the effect of accepting an offer in a contract?

It creates a legal obligation Signup and view all the answers

What is the requirement for a contract to be legally binding?

Intention to create legal relations Signup and view all the answers