16 Questions
An offer and acceptance can be affected by mistake, misrepresentation, duress, consideration, capacity, consent, legality, performance, and breach.
True
Once an offer is accepted, a contract is immediately formed.
True
Mistake made by either the offeror or the offeree can make the contract void.
True
Misrepresentation made by either the offeror or the offeree can make the contract voidable.
True
Duress experienced by the offeror can make the contract voidable.
False
Consent must be freely given and not obtained through fraud, duress, or undue influence.
True
Performance and breach are not significant factors in determining the validity of a contract.
False
Service contracts involve the sale of goods from one party to another.
False
Loan agreements involve the loan of money from one party to another.
True
Courts play no role in determining contract validity and resolving contract disputes.
False
An offer is a statement by the offeror to the offeree expressing willingness to enter into a contract on certain terms?
True
In contract law, acceptance must be communicated to the offeror and made within an unreasonable time?
False
For a contract to be formed, both the offeror and the offeree must have the intention to create legal relations?
True
Consideration in a contract can only be money?
False
An offer and acceptance are essential elements for the formation of a contract?
True
The performance of a contract is not governed by contract law?
False
Test your knowledge of the essential concepts in contract law with this quiz. Explore key principles such as offer and acceptance, intention to create a legal relationship, and the formation, performance, and enforcement of contracts.
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