Name: 

 

 

All About Law - Chapter 16 Self-Quiz


 

Multiple Choice

Identify the letter of the choice that best completes the statement or answers the question.

 

1. 

To be legally binding, a contract must have all but one of the following elements. Which one is not an element?

a.

offer and acceptance

c.

consideration

b.

moral obligation

d.

consent

 

 

 

 

 

2. 

Which of the following can be legal contracts?

a.

verbal contract

d.

b and c but not a

b.

written contract

e.

all of the above

c.

implied contract

 

 

 

 

 

 

 

3. 

Which of the following statements can be considered an offer in law?

a.

For 50 cents, I'd unload this loser skidoo!

c.

I'm offering $300 for your bike.

b.

I've been thinking of buying a bike like yours one of these days ...

d.

I'd give two cents for that group's music -- if they're lucky!

 

 

 

 

 

4. 

In law, when is the customer considered to be making a definite offer to purchase?

a.

by viewing the goods

d.

by comparing the price with others

b.

by asking about the price

e.

none of the above

c.

by selecting advertised items

 

 

 

 

 

 

 

5. 

If one party dies after accepting an offer, which of the following happens?

a.

the heirs can ignore the contract

c.

the heirs can sue the other party

b.

the contract is still valid (with estate)

d.

the heirs can decide whether to accept

 

 

 

 

 

6. 

Which of the following methods can be used to accept a contract?

a.

fax

d.

a and b but not c

b.

telephone

e.

all these methods are accepted

c.

mail

 

 

 

 

 

 

 

7. 

Which of the following type of consideration is not legally binding?

a.

present consideration

c.

future consideration

b.

past consideration

d.

b and c but not a

 

 

 

 

 

8. 

Under what circumstances might courts set aside a contract because the consideration is not great enough?

a.

One party was pressured.

d.

a and b but not c

b.

One party seems very naive.

e.

a and c but not b

c.

The consideration is very inadequate.

 

 

 

 

 

 

 

9. 

If minor lies about age, which of the following happens?

a.

Contract is automatically void.

d.

both a and b

b.

Minor loses legal protection.

e.

both a and c

c.

Minor retains legal protection.

 

 

 

 

 

 

 

10. 

Innocent misrepresentation means which of the following in contract law?

a.

no criminal charges can be laid

c.

misrepresentation benefits buyer

b.

misrepresentation does not harm buyer

d.

seller believes statement is true

 

 

 

 

 


 

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