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Contract Terms and Conditions
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Contract Terms and Conditions

Created by
@AmbitiousParticle

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?

    <p>To create a legal obligation</p> Signup and view all the answers

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

    <p>When MPH.COM.MY accepts the order by mail</p> Signup and view all the answers

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

    <p>Conditions of Sale</p> Signup and view all the answers

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

    <p>To be aware of the existing additional terms</p> Signup and view all the answers

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

    <p>To regulate the contract between the parties</p> Signup and view all the answers

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

    <p>It creates a legal obligation</p> Signup and view all the answers

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

    <p>Intention to create legal relations</p> Signup and view all the answers

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