Contracts Law 1: Elements of a Contract
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Questions and Answers

What is the relationship between the auctioneer and the property owner in an auction?

  • The auctioneer is the agent of the owner (correct)
  • The auctioneer is the buyer
  • The auctioneer is the seller
  • The auctioneer is an independent contractor

    • What is the characteristic of a tender?

  • The seller accepts the highest bid
  • The price is negotiable
  • The buyer nominates a price (correct)
  • The price is fixed

    • What is the result of an advertisement that invites offers?

  • A negotiation begins
  • A contract is formed
  • A offer is accepted
  • An invitation to treat is made (correct)

    • What is the status of a memorandum seeking attention of interested buyers?

    <p>It is a non-binding agreement</p> Signup and view all the answers

    What is the characteristic of a draft agreement?

    <p>It is a non-binding agreement</p> Signup and view all the answers

    What is the result of a statement of price?

    <p>An invitation to treat is made</p> Signup and view all the answers

    What is the role of the property owner in an auction?

    <p>The property owner sets a reserve price</p> Signup and view all the answers

    What is the result of a shopper making an offer to buy in a supermarket?

    <p>A contract is formed</p> Signup and view all the answers

    What is the characteristic of a shop display?

    <p>It is an invitation to treat</p> Signup and view all the answers

    What is the first element of a contract that was discussed in the lecture?

    <p>Offer and Acceptance</p> Signup and view all the answers

    What is an offer in the context of contract law?

    <p>A proposition by the offeror to the offeree with an intimation of willingness to enter into a contract</p> Signup and view all the answers

    Who is the offeree in a contractual agreement?

    <p>The person who accepts the offer</p> Signup and view all the answers

    What is the case that illustrates an offer to the world at large?

    <p>Carlill v Carbolic Smoke Ball Co (1892)</p> Signup and view all the answers

    What is the outcome of the Carlill v Carbolic Smoke Ball Co (1892) case?

    <p>The court ruled in favor of Mrs. C, stating that CSBC waived the requirement of communication of acceptance</p> Signup and view all the answers

    What is an example of a specific person who can be the offeree in a contractual agreement?

    <p>A particular person, such as John Smith</p> Signup and view all the answers

    What is an example of a group of persons who can be the offeree in a contractual agreement?

    <p>A group of accountants</p> Signup and view all the answers

    What is not considered an offer in contract law?

    <p>An invitation to treat</p> Signup and view all the answers

    What is the scenario where CSBC's advertisement was considered an offer to the world at large?

    <p>CSBC advertised a medicinal drug for influenza, and Mrs. C claimed 500 pounds</p> Signup and view all the answers

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