1. Which of the following best describes a contract?

a. A voluntary promise, enforceable by law, between two or more parties that agree to do
something or not to do something

b. A set of fundamental rules that regulate vital subject-matters of a country such as political,
economic, regime, fundamental rights and duties of the citizen and other people

c. A request made by a seller to a potential buyer to enter into a transaction

d. An expression of an individual’s will to transfer his/her own property to other person(s) after
his/her death.

2. An contract OFFER is:

a. An invitation to enter into a contract

b. A termination of contract

c. An acceptance to contract

d. A term of a contract

3. What does a contract need to be VALID?

a. Parties must have capacity to enter into contracts

b. Contents are not in contrary to prohibition of the law and social morals

c. Parties are free and voluntary making contracts

d. All of the above

4. Who can NOT enter into a contract?

a. A 30 year old drunk man sells his Iphone 6s to a friend.

b. 21 year old student lends a friend her motorbike.

c. A 4 year old girl buys some ice cream from a shop.

d. Both a and c

5. A legal person enters into contracts through:

a. Its legal representative,

b. Its authorized person

c. The person authorized by the government

d. Its legal representative or its authorized person

6. A commercial contract can be in the form:

a. In writing
b. Telegraph, telex, facsimile,

c. Data message

d. All are correct

7. According to the Civil Code 2015, a contract, which is entered into by a drunk person, may be
INVALID due to the contractor____________________.

a. Having no civil act capacity

b. Having loss of civil act capacity

c. Having restricted civil act capacity

d. Being unable to be aware or control their acts

8. According to the Civil Code 2005, a contract, which has inaccurate data made unintentionally,
may be invalid due to ____________.

a. Falsity

b. Mistake

c. Deception

d. Intimidation

9. When the offeree accepts to enter into a contract but states the conditions or modifies the
offer, he or she is:

a. Terminating this offer

b. Making a new offer

c. Accepting this offer

d. Ignoring this offer

10. An offer MUST NOT be changed, revoked, unless:

a. There are no conditions for changes or revocations are previously mentioned

b. Conditions for changes or revocations are later confirmed

c. Conditions for changes or revocations are previously mentioned

d. It is decided by the court

11. If a contract is made in writing, it shall be EFFECTIVE when:

a. The first party signs the contract.

b. Both parties sign the contract

c. The last party signs the contract.

d. The contract has been implemented