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Bus Law/Ch.4 Contract Law Flashcards | StudBud
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Bus Law/Ch.4 Contract Law
Bus Law/Ch.4 Contract Law
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Answers
1
The basic requirements of an offer are
communicated to offeree
all of the above
serious intent
definite and certain
2
A valid contract has ______ elements
8
5
9
6
3
what is a contract
agreement
legal binging agreement
legal agreement between two person or party
agreement between parties
4
A contract is an agreement that legally binds the parties to the contract.
False
True
5
ways in which a contract can be made
c) implied
b) written
a) orally
d) all of the above
6
Which of the following will terminate an offer?
Counteroffer
Reasonable time
Rejection
All of these
7
two characteristics of a simple contract
offeree and aceeptable
offerer and acceptance
offer and acceptance
acceptance and offeree
8
An unaccepted offer may be terminated
a reasonable length of time
all of these
the rejection of the offeree
a counter offer
9
A business can just tell a customer they don't accept returns.
False
True
10
If no time for acceptance is stated in offer, it must be accepted within ______
two days
a reasonable time
no time limit
two weeks
11
A restaurant menu is an offer to make a contract.
True
False
12
Which of the following is not one of the requirements of a contract?
Acceptance
Genuine Consent
Offer
Capacity
13
A minor has the right to avoid a contract
True
False
14
An acceptance that must be sent over long distances is effective
48 hours after it is sent
24 hours after it is sent
when it is sent
when it is received
15
A response to an offer in which the terms of the original are changed
mirror image
revocation
unilateral contract
counter offer
16
Definiteness and certainty are requirements of an offer.
False
True
False, these are elements of a contract.
True, but they aren't the only requirements.
17
When the terms of acceptance must exactly match the terms contained in the offer it is called
a bilateral contract
a matching contract offer
a unilateral contract
a mirror image rule
18
An offer has three basic requirements
Made seriously, be definite, & be communicated to offeree
legally binding, have a time limit, & must be revocable
include an invitation to negotiate, conditional, & in person
it must be revocable, definite, and made in person
19
An offer has three basic requirements
Made seriously, be definite, & be communicated to offeree
include an invitation to negotiate, conditional, & in person
legally binding, have a time limit, & must be revocable
it must be revocable, definite, and made in person
20
A counteroffer is a response to an offer in which
the original terms of the offer are changed
the offeree must accept within 24 hours
revocation is required
the original offeror is obligated to accept
21
Which is not an element of a contract?
agreement
government
offer
legality
