STUDENTS SUCCESS
Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
CONTRACT LAW PACK 2024/2025
contract
ans:an agreement that courts will enforce
offeror
ans:party who makes an offer to form a contract
offeree
ans:party to whom an offer is made
offer
ans:proposal by an offeror to do something, provided the offeree does something in
return
test of the reasonable person
ans:objective legal test used by jurors or judges to determine whether the offeror
has shown an intent to contract (comparing offeree's interpretation of the offer to a
reasonable person's interpretation)
revocation
ans:withdrawing an offer before it is accepted
counteroffer
ans:offeree's response to an offer which modifies it
, option
ans:separate contract arising when the offeree gives the offeror something of value
in return for a promise to leave an offer open
firm offer
ans:an offer by a merchant for the sale or purchase of goods stating in signed
writing how long it is to stay open
acceptance
ans:occurs when a party to whom an offer has been made agrees to the proposal
mirror image rule
ans:a rule that requires that the terms in the acceptance must exactly match the
terms contained in the counteroffer
unilateral contracts
ans:offeror promises something in return for the offeree's performance and indicates
that this performance is the way acceptance must be made
bilateral contracts
ans:offeree can accept offer by giving a promise to the offeror instead of performing
the contracted-for act
Chapter 8
ans:Genuine Agreement
genuine agreement (genuine assent, mutual assent)
ans:agreement to enter into a contract that is evidenced by words or conduct
between the parties
voidable contract
ans:contract in which the injured party can withdraw, thus cancelling the contract
rescission
Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
CONTRACT LAW PACK 2024/2025
contract
ans:an agreement that courts will enforce
offeror
ans:party who makes an offer to form a contract
offeree
ans:party to whom an offer is made
offer
ans:proposal by an offeror to do something, provided the offeree does something in
return
test of the reasonable person
ans:objective legal test used by jurors or judges to determine whether the offeror
has shown an intent to contract (comparing offeree's interpretation of the offer to a
reasonable person's interpretation)
revocation
ans:withdrawing an offer before it is accepted
counteroffer
ans:offeree's response to an offer which modifies it
, option
ans:separate contract arising when the offeree gives the offeror something of value
in return for a promise to leave an offer open
firm offer
ans:an offer by a merchant for the sale or purchase of goods stating in signed
writing how long it is to stay open
acceptance
ans:occurs when a party to whom an offer has been made agrees to the proposal
mirror image rule
ans:a rule that requires that the terms in the acceptance must exactly match the
terms contained in the counteroffer
unilateral contracts
ans:offeror promises something in return for the offeree's performance and indicates
that this performance is the way acceptance must be made
bilateral contracts
ans:offeree can accept offer by giving a promise to the offeror instead of performing
the contracted-for act
Chapter 8
ans:Genuine Agreement
genuine agreement (genuine assent, mutual assent)
ans:agreement to enter into a contract that is evidenced by words or conduct
between the parties
voidable contract
ans:contract in which the injured party can withdraw, thus cancelling the contract
rescission
