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People in Business
People in Business
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Unit 1 chapter 1 Leaving Cert Business
Flashcards
42 cards
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Practice quiz
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Questions
42
Answers
1
rescinding the contract means
compensation is paid
the contract has to be followed
the judge is ignored
the contract is cancelled
2
choose the odd one out
agreement
frustration
annoyance
performance
3
when you agree to all the terms of a contract this is known as
offer
agreement
capacity
acceptance
4
breach of a condition terminates a contract
false
true
5
Threatening somebody to enter into a contract makes it legally binding
true
false
6
an offer is asking somebody to enter into a deal
false
true
7
which group of people can't enter a contract?
reverants
teachers
diplomats
engineers
8
which of the following is not an element of a contract?
offer
acceptance
agreement
invitation to treat
9
a relationship that is constantly changing is
dynamic
competitive
cooperative
10
all social arrangements are legally binding
false
true
11
an offer can't be made by
by conduct
written
price tag
orally
12
rescinding the contract means the contract is ended
false
true
13
an unforeseen event e.g. death or bankruptcy or flooding that ends a contract is known as;
frustration
breach
agreement
specific performance
14
performance means....
both sides carry out the contract and the contract is over
the contract has been fulfilled
both sides forget about the contract
one person broke the contract
15
people under the age of 18 can enter into a contract
false
true
16
breach of a warranty terminates a contract
true
false
17
one person breaking the contract is known as
agreement
specific performance
breach
frustration
18
Ultra vires relates which element of a contract?
offer
acceptance
capacity
consideration
19
How many ways are there to terminate a contract?
2
3
5
4
20
agreement happens
unforeseen event has taken place
when one person breaks the contract
the contract has been fulfilled
both parties decide to end the contract
21
if an offer of €1500 is accepted for a car how much is the consideration?
1500
500
2000
1000
22
spot the odd one out
agreement
sue for damages
rescind the contract
specific performance
23
specific performance means
the judge cancels the contract
compensation is paid
the judge order the contract to be fulfilled
24
something of value passing between the two parties is which element?
offer
intention
capacity
consideration
25
a win lose relationship is
dynamic
cooperative
competitive
26
a sign in a shop window is an offer
false
true
27
Can you can end up in court if you break a contract?
true
false
28
suing for damages means
the judge orders the contract to be cancelled
the judge orders compensation to be paid
the judge orders both sides to pay money
the judge orders the contract to be carried out
29
legality of purpose means all written contracts are legal
false
true
30
all business contracts are legally binding
true
false
31
entering the contract of your own free will relates to which element of a contract?
acceptance
offer
capacity
consent
32
if a footballer misses a match this is a breach of
condition
warranty
33
if a footballer misses a training session this is breach of a
warranty
condition
34
a contract is a legally binding agreement between two or more parties
true
false
35
How many remedies for breach of contract are there?
3
2
5
none
36
a concert being cancelled due to a storm is an example of
frustration
agreement
performance
breach
37
A win - win relationship is
competitive
cooperative
dynamic
38
a band playing a concert and being paid is an example of
performance
frustration
agreement
breach
39
How many elements of a contract are there?
9
5
8
6
40
a contract must be written
true
false
41
an invitation to treat is asking somebody to enter into a deal
true
false
42
some contracts must be written to be legal
true
false
