8. Which of the following is not one of the basic requirements for a contract (a) Consideration (b) Duty. (c) Offer (d) Acceptance. (e) All of the above 9. Tim and Jim enter into a contract for a guitar. It turns out at the time the contract is entered into Jim is a minor. Which following concept applies? (a) Tim can void the contract and return the consideration. (b) Tim can sue for breach of contract because Jim is a minor. (c) Jim can void the contract. (d) None of the above (e) All of the above 10. Which of the following constitutes an acceptance in a bilateral contract. (a) An acceptance by the offeree. (b) An acceptance by a third person. () An equivocal acceptance. (d) An unequivocal acceptance. (c) Botha and d. (1) Both bandc