Which if the following is NOT an example of a contract?

a.A written promise to give your son a new car for Christmas

b.A verbal agreement to start your new job next week

c.A verbal agreement for the sale of your lawnmower to your neighbour, where neither the money nor the lawnmower has yet changed hands

d.A taxi stopping to pick you up after you hailed it on the street

e.Paying the cashier for your groceries at the grocery store

In the context of contract law, what are implied terms?

a.Terms that are inserted by the court into a contract when necessary to give effect to the parties intentions or past behavior between the parties.

b.Terms that are pre-contractual but do not become part of the written agreement because they are implied.

c.Terms that are automatically part of any enforceable contract

d.Terms that go against public policy

e.Terms that are clearly stated in the contract

Which of the following is true about a liquidated damages clause?

a.The contracting parties are not permitted to set an amount to be paid where a specified breach of contract occurs.

b.The contracting parties can rely on automatic enforcement by the courts.

c.The contracting parties set an amount to be paid where a specified breach of contract occurs.

d.The contracting parties agree to a variable amount to be paid where a specified breach of contract occurs.

e.The contracting parties set an amount to be paid if any breach of contract occurs

Watson Construction has signed an agreement to build houses in a new residential subdivision owned by ABC Holdings Inc. The area where the houses will be built includes a stretch of waterfront land, and Watson Construction has just hired a large new team of workers to handle this project. What does it mean if there is a force majeure clause in the contract between Watson Construction and ABC Holdings?

a.The parties agree to be liable proportionally for events that are beyond their control.

b.The parties exempt themselves from liability for damage caused by events beyond their control.

c.The parties agree that only one of the parties will be deemed liable for all the damage caused by a force majeure.

d.The parties exempt themselves from vicarious liability.

e.The parties can choose to opt out of their contractual obligations after a determined amount of time

Which of the following is false with regard to contract law?

a.A counter-offer always ends an offer.

b.An important criterion for determining the place of the contract is the place where the acceptance is effective.

c.A notice on a telephone pole offering to pay a reward for the return of lost kittens is an invitation to treat.

d.An option is a contract in which one person is buying a period of time within which he may accept the offer contained within the option.

e.An offer is no longer valid if the goods offered are destroyed