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Law of Contract Session 1 2023/24 Quiz

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Questions and Answers

What is the legal definition of consent according to section 13?

When one party agrees to the terms of the other party

When both parties sign a written contract

When two or more persons agree upon the same thing in the same sense (correct)

When one party makes an offer and the other party accepts

According to section 14, which of the following can cause consent to be invalid?

Coercion

Undue influence

Fraud or misrepresentation

All of the above (correct)

According to section 10, what must a contract have for it to be valid?

Lawful consideration and a lawful object (correct)

An offer and acceptance

Signatures from witnesses

Written consent from both parties

What does section 24 provide?

What considerations and objects are lawful, and what are not Signup and view all the answers

Are offer and counter-offer different?

Yes, a counter-offer is a new offer Signup and view all the answers

How can acceptance be made to an offer made to the public?

By performing the act requested in the offer Signup and view all the answers

According to section 26, what is the general rule regarding an agreement without consideration?

It is void Signup and view all the answers

In the case of Adam and Bill, what is the likely outcome?

Adam can buy the car for $5,500 as per Bill's offer Signup and view all the answers

In the case of Faiz and Fizah, what type of consideration is involved in their purchase of the house?

Future consideration Signup and view all the answers

What is required for the formalities of a contract to be valid?

It depends on the type of contract Signup and view all the answers