Podcast
Questions and Answers
What is the point at which an acceptance becomes a promise?
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?
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?
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?
What is the intention of the contracting party in a legally binding contract?
When is a contract considered effective in the example of MPH.COM.MY?
When is a contract considered effective in the example of MPH.COM.MY?
What is the additional electronic contract that regulates the contract between MPH.COM.MY and the customer?
What is the additional electronic contract that regulates the contract between MPH.COM.MY and the customer?
What is the responsibility of the customer in the example of MPH.COM.MY?
What is the responsibility of the customer in the example of MPH.COM.MY?
What is the primary purpose of including additional terms in a contract?
What is the primary purpose of including additional terms in a contract?
What is the effect of accepting an offer in a contract?
What is the effect of accepting an offer in a contract?
What is the requirement for a contract to be legally binding?
What is the requirement for a contract to be legally binding?
Flashcards are hidden until you start studying
