Kubasek Introduction to Contracts and Agreement
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| An agreement is based upon | An offer and an acceptance.
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| A __________ contract is defined as a promise made in exchange for a promise. | Bilateral
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| A __________ contract represents a situation where the offeror seeks performance from the offeree to form the contract. | Unilateral
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| __________ contracts have all their terms clearly set forth in either written or spoken words. | Express
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| 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
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| A(n) __________ contract is, in effect, not a contract at all. | Void
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| Elements of a valid offer include: | Intent, Definite and certain terms, Communication to the offeree
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| 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
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| The "mirror-image" rule requires that: | The terms of the acceptance must be identical to the terms of the offer.
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Created by:
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