1. Which of the following is not an essential element of a valid contract: O Each party to the contract must have the capacity to enter into the contract O There must be a meeting of the minds between the parties of the contract. O The contract must be in writing. The contract must be for a legal purpose. 2. Contracts may be classified by: O Formation, performance, or enforceability O Long-term or short-term O Negotiated or enforceable O Bilateral, unilateral, or multilateral 3. Offers to form a contrect are transmited directy to the offeree by acts or words. Which of the folowing are requirements of an offer? O It can be accepted indefinitely until the death of the offeree O IR must demonstrate clear intont, be sufficiently definite, and communicated O " must demonstrate clear intent, and be written not oral O it must be advertised to the general public in witing MacBook A 898 3 4. 5 Which of the following is true regarding mistakes in a contract environment? O A material mistake usually pertains to opinions of value. O An incidental mistake will immediately cause a contract to be void. O In the event of a mutual material mistake the contract is still generally stil enforceable. O In the event of a unilateral mistake a contract is generally stil enforceable. 1. Which of the following is not an essential element of a valid contract: O Each party to the contract must have the capacity to enter into the contract O There must be a meeting of the minds between the parties of the contract. O The contract must be in writing. The contract must be for a legal purpose. 2. Contracts may be classified by: O Formation, performance, or enforceability O Long-term or short-term O Negotiated or enforceable O Bilateral, unilateral, or multilateral 3. Offers to form a contrect are transmited directy to the offeree by acts or words. Which of the folowing are requirements of an offer? O It can be accepted indefinitely until the death of the offeree O IR must demonstrate clear intont, be sufficiently definite, and communicated O " must demonstrate clear intent, and be written not oral O it must be advertised to the general public in witing MacBook A 898 3 4. 5 Which of the following is true regarding mistakes in a contract environment? O A material mistake usually pertains to opinions of value. O An incidental mistake will immediately cause a contract to be void. O In the event of a mutual material mistake the contract is still generally stil enforceable. O In the event of a unilateral mistake a contract is generally stil enforceable
