Podcast
Questions and Answers
What is the essence of a unilateral contract?
What is the essence of a unilateral contract?
- Both parties are bound to do something
- Both parties can withdraw from the contract
- Only one party is bound to do something (correct)
- Neither party is bound to do anything
Which type of contract is enforceable by exchange of promises between parties?
Which type of contract is enforceable by exchange of promises between parties?
- Unilateral Contract
- Bilateral Contract (correct)
- Simple Contract
- Contract by Deed
What method of enforcement is typically used for breach of contract?
What method of enforcement is typically used for breach of contract?
- Verbal Warning
- Community Service
- Criminal Charges
- Action for Damages (correct)
What distinguishes a contract by deed from a simple contract?
What distinguishes a contract by deed from a simple contract?
According to Sir Frederick Pollock, how did he define a contract?
According to Sir Frederick Pollock, how did he define a contract?
In a unilateral contract, who is entitled to rewards if the conditions are met?
In a unilateral contract, who is entitled to rewards if the conditions are met?
What is one of the essential elements of a contract for the sale of goods?
What is one of the essential elements of a contract for the sale of goods?
Which concept refers to both parties in a contract promising to give or do something for the other?
Which concept refers to both parties in a contract promising to give or do something for the other?
What is the legal term for a contract that cannot be enforced in the courts?
What is the legal term for a contract that cannot be enforced in the courts?
In a contract for the sale of goods, what must not be illegal or contrary to public policy?
In a contract for the sale of goods, what must not be illegal or contrary to public policy?
What is the term for a contract that operates as valid unless avoided by one of the parties?
What is the term for a contract that operates as valid unless avoided by one of the parties?
Which remedy may be available in case of a real obligation in a contract of sale?
Which remedy may be available in case of a real obligation in a contract of sale?
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