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Course: Law of Contract
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Law of Contract

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Quiz: Law of Contract

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1. 7. An offer to the world at large, which is accepted by performing an act, forms what kind of contract?

A. Unilateral contract
B. Bilateral contract
C. Voidable contract
D. Oral contract

2. 6. A contract in which both parties exchange promises to perform is called a:

A. Unilateral contract
B. Bilateral contract
C. Void contract
D. Executed contract

3. 5. In English common law, which of the following is not typically required for a contract to be binding?

A. Intention to create legal relations
B. Mutual agreement
C. Witness signature
D. Consideration

4. 4. Which of the following best defines a contract?

A. A moral obligation between two people
B. A legally binding agreement
C. A verbal discussion between parties
D. A written statement of intent

5. 3. Consideration in contract law refers to:

A. Sympathy from the offeror
B. A moral obligation
C. The price paid for a promise
D. Government regulations

6. The law of contract is primarily concerned with:

A. Criminal acts
B. Tortious liability
C. Agreements enforceable by law
D. Ownership of property

7. Which of the following is not a key element of a valid contract?

A. Offer
B. Consideration
C. Invitation to treat
D. Acceptance
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