Quiz
BUSL 1
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Questions in this quiz (10)
1As a general rule, no formalities, except that a contract must be in writing, are required for a contract to be valid.
- ATrue
- BFalse
2Contracts for alienation of land must be in writing and signed by the parties or their agents acting on written instructions.
- ATrue
- BFalse
3An underlying principle of the law of contract namely, pacta sunt servanda is that agreements concluded should be enforceable.
- ATrue
- BFalse
4Supervening impossibility of performance refers to an instance when a voidable contract was concluded but due to an act of God/ State the continuation of performance has become impossible.
- ATrue
- BFalse
5Choose the 6 requirements for an offer and acceptance to be binding:
- AThe offer and acceptance must be made with the intention of being bound
- BThe offer must be complete
- CIt must be clear and certain
- DExpress acceptance
- EThe offer must be addressed to a specific person or the general public
- FThe offer must be communicated
- AThe offer and acceptance must be made with the intention of being bound
6Choose the requirements in order for duress to be present in the formation of a contract and to render such contract voidable:
- AThere must be actual violence or damage or a threat of violence or damage which causes reasonable fear
- BThe threat must be imminent
- CThe threat must be unlawful
- DA party to the contract must be responsible for the threat
- EThe threat must not cause the other party to conclude the contract
- AThere must be actual violence or damage or a threat of violence or damage which causes reasonable fear
7Essentialia are terms automatically incorporated into the contract as implied terms, unless they are excluded by the parties to the particular contract.
- ATrue
- BFalse
8Naturalia are essential terms identify the contract as being a certain kind of contract, for example a contract of sale, employment, credit or lease.
- ATrue
- BFalse
9A condition is a contractual term that renders the operation of a contract and consequences of a contract dependent on the occurrence or non-occurrence or a specified uncertain future event.
- ATrue
- BFalse
10A suspensive time clause stipulates the duration of the contract, after which it ceases.
- ATrue
- BFalse
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- Description
- Business law quiz
- Author
- tessammorris
- Language
- English
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- 73
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