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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?

It is a non-binding agreement (A) Signup and view all the answers

What is the characteristic of a draft agreement?

It is a non-binding agreement (A) Signup and view all the answers

What is the result of a statement of price?

An invitation to treat is made (B) Signup and view all the answers

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

The property owner sets a reserve price (B) Signup and view all the answers

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

A contract is formed (B) Signup and view all the answers

What is the characteristic of a shop display?

It is an invitation to treat (A) Signup and view all the answers

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

Offer and Acceptance (C) Signup and view all the answers

What is an offer in the context of contract law?

A proposition by the offeror to the offeree with an intimation of willingness to enter into a contract (B) Signup and view all the answers

Who is the offeree in a contractual agreement?

The person who accepts the offer (A) Signup and view all the answers

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

Carlill v Carbolic Smoke Ball Co (1892) (B) Signup and view all the answers

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

The court ruled in favor of Mrs. C, stating that CSBC waived the requirement of communication of acceptance (C) Signup and view all the answers

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

A particular person, such as John Smith (B) Signup and view all the answers

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

A group of accountants (C) Signup and view all the answers

What is not considered an offer in contract law?

An invitation to treat (A) Signup and view all the answers

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

CSBC advertised a medicinal drug for influenza, and Mrs. C claimed 500 pounds (B) Signup and view all the answers