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Quiz 2 IB1604 – LAW102

Choose the best answer by highliting in bold to complete the sentences:
1. ……………. is a contract in which both sides still have important
performance remaining.
A. An executed contract
B. A void contract
C. An executory contract
2. Contracts for the sale of goods which have price of $500 must be……………
A. in oral form.
B. in written form.
C. in implied form.
3. ………….. mean the people under the age at which they legally become
adults.
A. Intoxicated persons
B. Minors
C. Mentally incompetent people
4. Which proof of oral contract is permitted?
A. Full payment has been made.
B. Goods were delivered by seller.
C. The goods in question are of resellable nature.
5. ……………is one of the requirements of a valid offer.
A. Offer must be indefinite
B. Offer need not be communicated to the offeree
C. Offer must be seriously intended
6. Which statement is correct?
A. Minors are as liable for torts as adults are.

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B. Minors’ liability for torts are less than adults’ one.
C. Minors are not responsible for their damages.
7. …………must be judicially declared insane.
A. Intoxicated persons
B. Crimes
C. Mentally incompetent people
8. ...……….is one of the requirements of a valid contract.
A. Based on the agreement by one party
B. Be for a lawful purpose
C. Made by any people
9. Which statement is not correct?
A. The minor may ratify the contract after attaining majority.
B. A minor is not allowed to disaffirm a contract.
C. The minors are liable for their business contracts.
10. ………………is an exchange of promises in which the terms by which the
parties agree to be bound are declared either orally or in writing, or a
combination of both, at the time it is made.
A. A written contract
B. An implied contract
C. An express contract
11. A revocation of an offer must be communicated to the offeree …………….
…
A. after the acceptance.
B. at the same time of the acceptance.
C. prior to the acceptance.
12. ……………... is the transfer of duties without transfer of rights.
A. Delegation
B. Assignment
C. Novation

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13..……………….is a formal agreement in which only one of the people or
groups involved agrees to do something.
A. A unilateral contract
B. A bilateral contract
C. An oral contract
14. …………….are the contracts when parties agree to perform the same
obligation.
A. Joint and several contracts
B. Joint contracts
C. Several contracts
15. ……………is not the termination of contracts.
A. Voluntary agreement of the parties
B. Possibility of performance
C. Acceptance of a breach of contract
16. Which statement is correct?
A. A void contract is an agreement with no legal effect.
B. A void contract is the same as an unenforceable contract.
C. A void contract is enforceable in court.
17. ………….. is considered as unilateral contract.
A. Sale and purchase contract
B. Employment contract
C. Reward contract
18. Which is not considered as impossibility of performance that leads to
termination of contracts?
A. New laws making the contract legal
B. Destruction of the subject matter
C. Force majeure
19. ………….. is considered as bilateral contract.
A. Contract for gifts of property

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B. Franchise agreement
C. Reward contract
20. Offer is not terminated by…………….
A. Lapse of time specified
B. Rejection of the offer by the offeree
C. The performance of the contract is legal

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