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Law of Offers and Acceptance

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Questions and Answers

What is required for an agreement to be valid?

An intention to form a contract
An offer that has been declined
Both parties must sign a contract
An offer which has been accepted (correct)

In the case of Moran v University College Salford, why did Mr. Moran sell his house and move to Manchester?

Because he received multiple conditional offers
To attend a different university
To start a new job in Manchester
Due to a mistake in the offer from University College Salford (correct)

What did the court hold in the case of Smith v Hughes?

The offer was invalid due to currency dispute
The offer was not legally binding
The offer was intended to be in USD but mistakenly written in pounds
The offer was intended to be in pounds but mistakenly written in USD (correct)

What led to the dispute in OT Africa Line Ltd v Vickers plc?

Mistake about the currency (B) Signup and view all the answers

Which factor is considered when assessing an agreement?

Objective assessment based on available facts (C) Signup and view all the answers

What determines whether an offer has been made in a specific currency?

An objective assessment based on all available facts (C) Signup and view all the answers

What is an offer in the context of contract law?

An indication of willingness to enter a legally binding contract. (B) Signup and view all the answers

Which of the following scenarios does NOT constitute an offer?

A statement expressing willingness to consider selling a property. (A) Signup and view all the answers

In contract law, what is the significance of 'intention to be bound' in relation to an offer?

It signifies readiness to enter into a legally binding contract. (B) Signup and view all the answers

Which of the following statements would NOT likely be considered an offer in contract law?

'It would not be possible for me to sell unless I was to receive $16,000 cash.' (B) Signup and view all the answers

In the case of Carlill v Carbolic Smoke Ball Co., what was the outcome regarding the advertisement for the smoke ball product?

The advertisement was deemed an offer, and completing the conditions accepted the offer. (A) Signup and view all the answers

What does the objective assessment in contract law entail in determining whether an offer has been made?

Evaluating the commercial sense of construing an offer based on objective standards. (B) Signup and view all the answers