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People in Business
People in Business
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Unit 1 chapter 1 Leaving Cert Business
Flashcards
48 cards
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Practice quiz
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Questions
48
Answers
1
when a party rejects the terms of an offer and tries to change them this is called a
offer
deal
acceptance
counter-offer
2
when a manager shares out jobs to be done this is called
dalagation
being bossy
delegation
being lazy
3
which of the following is not an element of a contract?
acceptance
invitation to treat
offer
agreement
4
to have intention to contract you have to sign a contract
false
true
5
an unforeseen event e.g. death or bankruptcy or flooding that ends a contract is known as;
agreement
frustration
breach
specific performance
6
a sign in a shop window is an offer
false
true
7
Which of the following is not a stakeholder of a business
employer
entrepreneur
next door neighbour
investor
8
some contracts must be written to be legal
false
true
9
performance means....
both sides carry out the contract and the contract is over
both sides forget about the contract
the contract has been fulfilled
one person broke the contract
10
if a footballer misses a training session this is breach of a
warranty
condition
11
Ultra vires relates which element of a contract?
capacity
consideration
offer
acceptance
12
Threatening somebody to enter into a contract makes it legally binding
true
false
13
rescinding the contract means
compensation is paid
the contract is cancelled
the contract has to be followed
the judge is ignored
14
if a footballer misses a match this is a breach of
warranty
condition
15
entering the contract of your own free will relates to which element of a contract?
offer
consent
acceptance
capacity
16
one person breaking the contract is known as
specific performance
breach
agreement
frustration
17
a band playing a concert and being paid is an example of
agreement
breach
performance
frustration
18
a manager's job is to make day to day
products
decisons
money
19
an invitation to treat is asking somebody to enter into a deal
false
true
20
when you agree to all the terms of a contract this is known as
capacity
offer
acceptance
agreement
21
if an offer of €1500 is accepted for a car how much is the consideration?
1500
500
1000
2000
22
specific performance means
the judge order the contract to be fulfilled
compensation is paid
the judge cancels the contract
23
How many remedies for breach of contract are there?
5
none
3
2
24
a contract must be written
true
false
25
something of value passing between the two parties is which element?
capacity
consideration
offer
intention
26
all social arrangements are legally binding
true
false
27
suing for damages means
the judge orders compensation to be paid
the judge orders the contract to be cancelled
the judge orders both sides to pay money
the judge orders the contract to be carried out
28
quid pro quo is related to which element of a contract?
acceptance
offer
consideration
legality of purpose
29
choose the odd one out
performance
agreement
frustration
annoyance
30
which group of people can't enter a contract?
engineers
diplomats
reverants
teachers
31
breach of a warranty terminates a contract
false
true
32
What is a business?
a social club
an enterprise set up to make a profit
an enterprise which provides goods or services
a bit of craic in the evenings
33
which of the following is not an entrepreneur?
Stark
Richard Branson
Bill Gates
Mark Zuckerberg
34
an offer can't be made by
by conduct
price tag
written
orally
35
breach of a condition terminates a contract
true
false
36
agreement happens
both parties decide to end the contract
the contract has been fulfilled
when one person breaks the contract
unforeseen event has taken place
37
a concert being cancelled due to a storm is an example of
performance
agreement
breach
frustration
38
people under the age of 18 can enter into a contract
false
true
39
legality of purpose means all written contracts are legal
true
false
40
rescinding the contract means the contract is ended
false
true
41
what is the name of the people affected by how the business is run?
stakeholders
steakholders
42
an offer is asking somebody to enter into a deal
true
false
43
How many ways are there to terminate a contract?
3
2
4
5
44
Can you can end up in court if you break a contract?
false
true
45
which of these contracts does not need to be written
buying a car
buying a house
insurance policies
hire purchase
46
which of the following is not a service provider
farmer
lawyers
hankai
accountant
47
An Entrepreneur spots a .......... in the market
gap
opportunity
risk
idea
48
spot the odd one out
specific performance
sue for damages
agreement
rescind the contract
