US Contract Law Quiz

21 years old

18 years old

20 years old

16 years old

A negotiation tactic

A legally binding agreement

A formal written document

An expression of willingness to enter into a contract on certain terms

A mistake made during contract formation

Something of value exchanged in a contract

An agreement between parties

The total cost of entering into a contract

A statute prohibiting fraud in contracts

A regulation governing contract negotiations

A law requiring certain contracts to be in writing to be enforceable

A rule allowing parties to back out of contracts within a specified period

Unilateral contracts involve promises exchanged by both parties, while bilateral contracts involve a promise in exchange for an act

Unilateral contracts involve a single party, while bilateral contracts involve multiple parties

Unilateral contracts are oral agreements, while bilateral contracts are written agreements

Unilateral contracts involve a promise in exchange for an act, while bilateral contracts involve promises exchanged by both parties

Duress

Lack of capacity

Mistake

Nominal consideration

A contract entered into by a minor

A contract with an illegal purpose

A contract without consideration

A contract with mutual mistake

An agreement made under duress

An agreement made orally

A doctrine that prevents a party from denying their promise if it resulted in another party relying on that promise

A breach of contract

A rule that prohibits parties from entering into contracts with minors

A rule requiring parties to negotiate in good faith

A rule that allows parties to rescind a contract within a specified period

A rule that prevents parties from introducing oral or written evidence that contradicts or adds to the terms of a written contract

A defense that allows parties to back out of a contract within a specified period

A defense that excuses performance of a contract if it becomes objectively impossible to fulfill

A rule that requires parties to act in good faith during contract negotiations

A doctrine that allows parties to rescind a contract due to mutual mistake

A doctrine that allows parties to modify a contract without the consent of the other party

A doctrine that allows parties to recover damages if the other party fails to fully perform their obligations under a contract

A doctrine that allows parties to terminate a contract for convenience

A doctrine that requires parties to negotiate in good faith

A breach of contract that occurs when one party indicates they will not fulfill their obligations before the performance is due

A defense that excuses performance of a contract if it becomes objectively impossible to fulfill

A doctrine that allows parties to recover damages if the other party fails to fully perform their obligations under a contract

A doctrine that prevents a party from denying their promise if it resulted in another party relying on that promise

A remedy that allows parties to rescind a contract due to mutual mistake

A remedy that allows parties to modify a contract without the consent of the other party

A remedy in contract law that requires the breaching party to fulfill their obligations under the contract

A remedy that allows parties to terminate a contract for convenience

To require parties to act in good faith during contract negotiations

To allow parties to terminate a contract for convenience

To provide an alternative remedy instead of monetary damages

To specify the amount of damages to be paid in the event of a breach

Between 4 to 6 years

Between 8 to 10 years

Between 2 to 4 years

Between 6 to 8 years