Froggy Jumps Contract Law QuizOnline version Test your knowledge of contracts with these challenging questions! by Sukanya Mcleish 1 What is an offer in contract law? a A statement of intention to possibly enter into a contract. b A proposal made by one party to another to enter into a contract. c A signed agreement between two parties. 2 What is a consideration in a contract? a Something of value exchanged for something else of value. b A statement of facts made during negotiations. c A promise to perform a future act. 3 What is the legal capacity required to enter into a contract? a Having a high level of education. b Having a good reputation in the community. c Being of sound mind and of legal age. 4 I am the person accepting the offer. Who am I? a Acceptor b offeror c Offeree 5 Which of the statements below are correct? a All agreements are contracts, but not all contracts are agreements. b All contracts are agreements, but not all agreements are contracts. c Both contracts and agreements are legally binding. 6 What are the three main features of a Specialty Contract? a Sealed, Signed, and Considered. b Delivered, Good faith, Signed. c Signed, Sealed, Delivered. 7 A contract of record is a a Court judgment requests parties to abide by a specific obligation. b Contracts that are not required by law must be in any special form. c A mutual understanding between two or more persons.
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