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In relation to contract law, how long will an offer remain open if no time period is set for its expiry??

A

1 day?

B

?1 month?

C

?For a reasonable time?

?Which of the following will terminate an offer??

A

?Posting a letter of revocation?

B

A request for information?

C

Death of the offeree?

?Which of the following is NOT a valid method of acceptance??

A

The offeree's express words?

B

?The offeree's conduct?

C

?Silence of the offeree?

Which of the following statements regarding the postal rule is correct?

A

Acceptance is effective once the letter of acceptance is written

B

Acceptance is effective once the letter of acceptance is posted?

C

Acceptance is effective once the letter of acceptance is delivered?

?Which of the following is an example of a standard form contract??

A

A verbal agreement between two private individuals?

B

?A contract for the sale of a house between two private individuals?

C

?A contract for the supply of electricity between a utility company and a private individual?

D

?A contract of employment between a private individual and a small local shop?

Which of the following statements concerning the law and contracts is correct??

A

The law seeks to ensure equal bargaining power between parties?

B

?The law will only interfere in contracts where one party abuses a stronger bargaining position?

C

The law does not interfere in the formation of contracts?

D

?The law seeks to maintain the bargaining power of parties in a contract?

Which TWO of the following are examples of valid offers??

(1) A person verbally stating to another person that they would like to sell their computer to them for?£500 today??

(2) A newspaper advert that states a shop is selling shoes for £20??

(3) A person handing their shopping to a supermarket checkout operator??

(4) A business that circulates its price list to customers?

A

?1 and 2?

B

?1 and 3?

C

?2 and 3?

D

?2 and 4?

Which of the following is an example of a valid offer??

A

?A display of goods for sale?

B

An Internet shop that advertises products for sale?

C

?A newspaper advert that includes a specific statement, made to the world at large, offering areward?for the return of a particular item?

D

?An invitation for potential suppliers to tender for the provision of services?

?Which of the following statements regarding counter-offers is correct??

A

?Counter-offers may be accepted by the original offeror?

B

?Counter-offers do not terminate the original offer?

C

?A statement that enquires whether alternative terms would be acceptable is a counter-offer?

D

?A counter-offer is made by the original offeror to the original offeree?

In which of the following situations will an offer be terminated??

A

When a letter of revocation is posted?

B

?When a third party, who is sufficiently reliable, verbally notifies the offeree of the offeror's revocation?

C

?When an offeree enquires whether the offeror will accept payment by credit card rather than cash?

D

When an offeror dies, the offeree is unaware of the death and the contract is not of a personal nature