7 Questions
What is the definition of a contract?
An agreement giving rise to obligations which are enforced or recognized at law
Which of the following is an example of an agreement that is not a contract?
Friends agreeing to go out for a meal
What are the two main types of contracts?
Oral and written contracts
What are the four basic elements to ascertain whether a contract exists?
Offer, acceptance, consideration, and intention to create legal relations
What is an offer in a contract?
An expression made by one party to another party communicating the willingness to perform a promise
Can an offer be made orally?
Yes, an offer can be made orally
When is an offer open for anyone to accept it?
When the offer is addressed to everyone (the whole world
Study Notes
Test your knowledge on contract formation with this quiz! From the basics of what constitutes a contract to the essential elements required for its formation, this quiz will challenge your understanding of contract law. Sharpen your skills by identifying the key factors that make an agreement legally binding, and learn how to avoid common pitfalls in contract formation. Whether you're a law student or a business owner, this quiz is perfect for anyone looking to brush up on their contract formation knowledge.
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