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Contract quiz 9

Kubasek Introduction to Contracts and Agreement

QuestionAnswer
An agreement is based upon An offer and an acceptance.
A __________ contract is defined as a promise made in exchange for a promise. Bilateral
A __________ contract represents a situation where the offeror seeks performance from the offeree to form the contract. Unilateral
__________ contracts have all their terms clearly set forth in either written or spoken words. Express
A(n) __________ contract may be recognized by a court in order to prevent one party from being unjustly enriched at the expense of another party. Quasi
A(n) __________ contract is, in effect, not a contract at all. Void
Elements of a valid offer include: Intent, Definite and certain terms, Communication to the offeree
Which of the following circumstances will Terminate an offer? Revocation by the offeror, Rejection by the offeree, Lapse of time or failure of another condition specified in the offer
The "mirror-image" rule requires that: The terms of the acceptance must be identical to the terms of the offer.
Created by: tinafici