10 Questions
What is the legal definition of consent according to section 13?
When two or more persons agree upon the same thing in the same sense
According to section 14, which of the following can cause consent to be invalid?
All of the above
According to section 10, what must a contract have for it to be valid?
Lawful consideration and a lawful object
What does section 24 provide?
What considerations and objects are lawful, and what are not
Are offer and counter-offer different?
Yes, a counter-offer is a new offer
How can acceptance be made to an offer made to the public?
By performing the act requested in the offer
According to section 26, what is the general rule regarding an agreement without consideration?
It is void
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
In the case of Faiz and Fizah, what type of consideration is involved in their purchase of the house?
Future consideration
What is required for the formalities of a contract to be valid?
It depends on the type of contract
Test your knowledge on the concepts and principles of business law in Malaysia related to contract formation. This quiz covers the elements of a valid contract, terms in a contract, types of contracts, and the effects of contracts.
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