30 Questions
What are the elements that form a valid contract?
Offer, acceptance, and capacity
Which of the following is a type of voidable contract due to a threat of harm or violence?
Coercion
What is the consequence of breach of contract that involves failing to meet the agreed terms?
Damages
In contract law, what is the term used for an agreement to do something that is so defined and certain that an objective standard can be applied?
Certainty
What concept in contract law refers to a situation where one party puts pressure on the other to enter into a contract?
Undue influence
Which term in contract law refers to a performance obligation that is central to the contract and failure of which might be considered a breach?
Performance
What is an invitation to treat?
A statement indicating willingness to negotiate
Which of the following is an example of an invitation to treat?
The display of goods in a shop window
In the case of Pharmaceutical Society of Great Britain vs Boots Cash Chemists, what was the issue?
Boots was charged for selling a listed poison without proper supervision
In the case of Fisher vs Bell, what was the defendant charged with?
Offering for sale a flickknife in a shop window
In the case of Payne vs Cave, what was the issue?
The defendant made the highest bid and withdrew it before the fall of the hammer
Which of the following is NOT an example of an invitation to treat?
A firm offer to sell goods at a fixed price
What is required for an agreement to be considered a contract?
All of the above
Which of the following agreements is considered a contract?
A commercial agreement
What is the age of majority according to the Age of Majority Act 1971?
18 years old
Which of the following contracts involving a minor is considered valid?
All of the above
What happens if an agreement's meaning is not certain or cannot be made certain?
The agreement is void
In the case of Karuppan Chetty vs Suah Thian, why was the contract declared void?
Uncertainty of terms
In contract law, when are two or more persons said to consent?
When they agree upon the same thing in the same sense
What is the impact of coercion, undue influence, fraud, misrepresentation, or mistake on consent in a contract?
Invalidates consent
According to section 10 of the law, what is necessary for a contract's consideration and object?
Lawful consideration and lawful object
Under section 26, what is the status of an agreement without consideration?
It is void
In the scenario provided, what price did the garage owner, Bill, agree to sell the car to Adam for?
RM5,500.00
What was the reason Faiz decided to divorce his wife in exercise 2?
Their marriage had problems
What is the legal definition of a contract according to the Contract Act 1950?
An agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration.
Which of the following is NOT an essential element required to form a valid contract?
Registration
What is the key difference between an oral contract and a written contract?
Written contracts are better than oral agreements.
What is the legal definition of an offer according to the Contract Act 1950?
A communication that indicates the terms on which the offeror is prepared to make a contract and gives a clear indication that the offeror intends to be bound by those terms if accepted by the offeree.
What was the key issue in the Carlill vs Carbolic Smoke Ball Co. case mentioned in the text?
Whether an offer can be made to the public at large.
Which of the following is NOT an essential element of a valid contract?
Mutual agreement
This quiz covers the concepts and principles of business law in Malaysia related to contract law. Topics include explaining contracts, applying elements of a valid contract, and understanding terms such as offer, acceptance, consideration, and more.
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