Objective Questions with Answers on Law Of Contracts - 18. 1) Which one of the following element is not necessary for a contract ? As acceptance, must meet the same terms of the offer to be valid, the following answer that suggest new terms in the offer is defined as a counter offer. Part - 1 Offer and Acceptanc - Unilatetal Cobtracts - Exam Problem Question. Such introductions do not answer the question set; they are unrelated to the specific issue raised. Each book includes typical questions, answer plans and suggested answers, author commentary and other features. We help people pass any competitive exam. Well, by any stretch of the imagination, legally, this is not an offer and an acceptance given what you know about adverts. Acceptance is an unqualified and unconditional agreement to all the terms of the offer, by words or conduct. Question3: State the ways an offer may be terminated? Business Instructor. In particular, you should avoid beginning your answer with a general summary of the law of contract . A needs money so she published in a weekly newspaper on Monday 1st February the following advert: Selling Dior and Gucci bags for the highest bid over $100. The questions raised in this publication are of special concern to real estate purchasers. Rep:? The offer will be accepted once the letter is received by the offeror. Go to first unread Skip to page: Zain Farah Badges: 0. 250+ Contract Law Interview Questions and Answers, Question1: Discuss the impact of the Consumer Protection Act upon the law of contract with reference to its aims, objectives, scope, national regulatory institutions, and sanctions? Copy this to my account; E-mail to a friend; Find other activities; Start over; Print; Help; Meghan DeGroot. So for example, a question might say X placed an advertisement on his windscreen offering his car for sale for £10,000. Firstly, acceptance must be communicated. Follow ... (Offer, Acceptance, Consideration, Intention); valid / void / voidable contracts; breaches that lead to termination (breach of condition) or only to damages (breach of warranty); express or implied terms; exclusion clauses. Question2: List and very briefly discuss the requirements for a valid offer and acceptance? Practice questions on offer and acceptance 1. Announcements Applying to uni? The Questions and Answers of Can you explain the answer of this question below:The juristic concept of contract consists of:A:Agreement & ObligationB:Free Consent & CapacityC:Offer and AcceptanceD:Consideration & CoercionThe answer is A. are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. Contract Assignment 2010-2. Fatskills is a global online study tool with quizzes, study guides, MCQs & practice tests for all examinations, certifications, courses & classes - K12, ACT, GED, SAT, NCERT, NTSE, IIT JEE, NEET, SSC, math tests, social studies, science, language arts, and more test prep. Offer and acceptance are the essential elements of a contract. People posted millions of offer/acceptance and consideration questions over the last few months. Delivery will occur on Wednesday”. attorney if you do not understand any issues regarding it before you enter into a binding contract. In either case, it should be done out of one's free will and with an intention to enter into a legally binding agreement. Contract Law Cases. Find your group chat here >> start new discussion reply. C) It is enforceable by law. Question 1. The acceptance of an offer may be either a statement of agreement, or, if the offer invites acceptance in this way, a performance of an act requested in the terms of the offer. Issue The issue raised by the question is whether Bill’s letter constitutes an offer. Format your letter correctly. If you're sending a hard copy through the mail, format the letter as you would any business letter. For instance, if one tells a neighbor kid that if the kid mows the offeror’s lawn, the offeror will pay $20.00, and the kid does mow the lawn, the act of mowing constitutes the manifestation of the kid’s assent. Analysis: the common law system and the contract law of Australia tell us that contract can be formed when certain conditions are fulfilled. The questions raised in this publication are of special concern to real estate purchasers. For example: "In order to have a binding contract there must be an offer and an acceptance. On Monday, Big Business Ltd. (BB) offers to sell 300 wrist watches to Going Places Ltd. (GP) at £50 per watch. Page 1 of 1. Advice on Writing a Job Offer Acceptance Letter . Questions. Tort Law Problem Question. Acceptance has no effect until it is communicated to the offeror, silence can never establish an acceptance (Felthouse v Bindley, 1863). 1. Each book includes typical questions, answer plans and suggested answers, author commentary and other features. If you search in this forum or search through my posts (go a couple of months back), you'll find a lot of detailed and quite fully worked answers to exam offer/acceptance and consideration questions that people posted. Belleville, IL: View profile; Send e-mail; This activity was created by a Quia Web subscriber. You want to handle the acceptance responsibly and professionally. Question: Discuss The Offer And Acceptance. In order for acceptance to be valid, the following conditions must apply. Mercantile Law By- R.C Agarwal ISBN :-978-93-86828-43-9 Rs.230 CONTENTS : Chapters UNIT I Indian Contract Act, 1872 Agreement and Contract Offer and Acceptance Competency of Parties or Capacity of Parties Free Consent Lawful Objects and Consideration Void Agreements or Agreements Expressly Declared Void Contingent Contracts Performance of ‘Contracts Discharge of… C) Free consent. The Concentrate Questions and Answers series offers the best preparation for tackling exam questions. If there is an offer followed by an acceptance there will be a contract between the parties. If there is an offer followed by an acceptance there will be a contract between the parties. Complete Contracts 'a' Study Notes. Therefore, it is imperative that you carefully read and understand the entire purchase contract and that you consult an attorney if you do not understand any issues regarding it before you enter into a binding contract. When Is Silence A Valid Acceptance? Contract Law - Help me with offer and acceptance problem question (10points)? Test yourself by downloading the questions first; then download the sample answers. B) Reasonable terms and conditions. Questions shown all at once. Issue The issue raised by the question is whether Bill’s letter constitutes an offer. ANSWER Introduction For a contract to arise in the circumstances of the question, one of the parties has to make and offer which is duly accepted by the other. Questions and Answers on: OFFER AND ACCEPTANCE A publication of the North Carolina Real Estate Commission. Perhaps the favorite correspondence, but also somewhat stressful, the offer acceptance is the positive culmination or your job search. The book starts with an introduction explaining how to use the book. Question 2. This chapter outlines a number of questions that need to be posed in answering exam questions about the rules of offer and acceptance and certainty of terms. This problem has been solved! Q: I have found a home I am interested in buying. A contract is an agreement that is legally enforceable at law, whoever breaches the contract can be sued or monetary compensation or be force to carry out the contract. offer and acceptance problem question Watch. Any conditions or qualifications added would constitute a counter-offer and would therefore terminate the standing offer. See the answer. Self-test questions and answers. Tools. When the letter is posted by the offeree. The elements of a contract are "offer" and "acceptance" by "competent persons" having legal capacity who exchanges "consideration" to create "mutuality of obligation. ANSWER Introduction For a contract to arise in the circumstances of the question, one of the parties has to make and offer which is duly accepted by the other. You will need to consider the following in your answer: The definition of an “offer” and of an “invitation to treat”; The essential points distinguishing offers and invitations to treat. B was passing by his house and saw this and called A to accept his offer. Law Of Contract Sample Question (Acceptance)(Postal Rule/Instantaneous Means Of Communication) Contract Law. Any misunderstandings concerning offer and acceptance can result in serious legal and financial consequences for the buyer and seller. Consequently, they are posed from the standpoint of the purchaser. Distinguish between an offer and an invitation to treat. B) Parties are competent. BL Ch 7 Offer & Acceptance Test. contract law offer and acceptance problem questions and answers. Concentrate Q&A Contract Law provides guidance on answering questions on the law of contract. Answer Plan. Answer: To establish whether or not Mrs Turner has entered into two contracts first off all we have to look at what makes a contract and what type of offer was made to her and whether or not she accepted it. 2007.01 - Contract Law - Exam Notes (FINAL) Contract Law Problem Question. Bids must be notified to me in writing by fax, post or email by 2:00pm on Friday 20th February. Include your contact information and phone number, even though it’s on file with the employer. Keep it brief. … GP emails an acceptance at 10am. Offer and Acceptance An offer is a proposal by one party to another to enter into a legally binding agreement The person making the offer is known as the offeror, proposer, or promisor and the person to whom it is made is called the offeree or proposee When the offeree accepts the offer, he is called the acceptor or promisee A contract emerges from the acceptance of an offer Acceptance is … Contract Problem Sample Answer-1. When the seal of the letter is broken by the offeror. Published in: Law. When does the employer need an answer? 2) An agreement becomes a contract if : A) It is by free consent of the parties. Visual Law School . Answer : B. Consequently, they are posed from the standpoint of the purchaser. Discuss the offer and acceptance. The letter can be sent by email or mail. Answer for Part C Past Year Question Apr 2010 UiTM. If the answer is not … A) Competent parties . Offer and Acceptance: Distinguishing an offer from an invitation to treat. The book then looks at offer and acceptance, certainty of terms, consideration and intention to create … Example Answers to Questions on Offer and Acceptance Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. The offer to GP is sent by fax and includes the following statement: “Please send an acceptance by 12pm today. D) Lawful concentration . Questions and Answers on: OFFER AND ACCEPTANCE A publication of the North Carolina Real Estate Commission. What Is an Offer? Banter Back And Forth As To Why Certain Behavior Would Or Would Not Constitute And Offer Or Acceptance, I.e., Are The Advertisements For A Car In The Sunday Paper An Offer? it before you enter into a binding contract. 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