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Question 1
Which statement best describes a valid offer in contract law?
- A manifestation of willingness to bargain that justifies assent by the offeree
- Any advertisement with a price
- A private hope to make a deal later
- A court's final judgment
Question 2
Consideration generally requires what?
- A bargained-for exchange of legal value
- A notarized writing in every case
- A promise made only between relatives
- A court seal before performance
Question 3
Under the mirror image rule, an acceptance must do what?
- Match the offer's material terms
- Add a new mandatory arbitration term
- Be sent only by postal mail
- Be signed by a judge
Question 4
A counteroffer usually has what effect on the original offer?
- It rejects and terminates the original offer
- It automatically accepts the original offer
- It converts the dispute into a tort
- It binds only the court clerk
Question 5
Promissory estoppel is most likely to matter when what is missing?
- Traditional consideration, despite reasonable reliance
- A plaintiff
- A defendant
- A written constitution
Question 6
Which doctrine may require certain agreements to be in writing?
- Statute of Frauds
- Res ipsa loquitur
- Political question doctrine
- Strict scrutiny
Question 7
If one party makes a promise after receiving a completed gift, the promise may fail for what reason?
- Past consideration is generally not bargained-for consideration
- All gifts are crimes
- Courts never enforce written promises
- The promise becomes property law
Question 8
Capacity defenses focus primarily on what issue?
- Whether a party had legal ability to contract
- Whether the judge agrees with the price
- Whether the contract uses Latin
- Whether the parties live in different states
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