LAW OF CONTRACTS PRACTICE
COMPREHENSIVE TEST PAPER 2026
COMPLETE QUESTIONS AND ANSWERS
EXPERT VERIFIED GRADED A+
◉ A contract that is binding on the parties, with one or more of the
parties having contractual duties that have not yet been performed.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: E
◉ An agreement between two or more parties to do something or to
refrain from doing something.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
,e. Executory contract. Answer: D
◉ Often referred to as a "meeting of the minds".
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: A
◉ When a new contract is substituted for an existing one.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: C
◉ Something of value given in exchange for a promise.
a. Mutual consent
b. Consideration
,c. Novation
d. Contract
e. Executory contract. Answer: B
◉ In most states, lease agreements for one year or less are the
exception to the ___________________:
a. SAFE Act
b. Statute of Frauds
c. Statue of Limitations
d. RESPA. Answer: B
◉ A unilateral contract is said to lack _________________.
a. Mutuality
b. Fairness
c. Agreement
d. Signatures. Answer: A
◉ Contracts with a person who lacks mental capacity can be either
void or __________________.
, a. Implied
b. Unilateral
c. Voidable
d. Express. Answer: C
◉ _________________ is often referred to as a "meeting of the minds."
a. A contract
b. Mutual consent
c. Consideration
d. An offer. Answer: B
◉ ________________ is defined as something given in exchange for a
promise.
a. Agreement
b. Consideration
c. Mutual assent
d. Competent parties. Answer: B
◉ A(n) _______________ occurs when a new contract is substituted for
an existing one.
COMPREHENSIVE TEST PAPER 2026
COMPLETE QUESTIONS AND ANSWERS
EXPERT VERIFIED GRADED A+
◉ A contract that is binding on the parties, with one or more of the
parties having contractual duties that have not yet been performed.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: E
◉ An agreement between two or more parties to do something or to
refrain from doing something.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
,e. Executory contract. Answer: D
◉ Often referred to as a "meeting of the minds".
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: A
◉ When a new contract is substituted for an existing one.
a. Mutual consent
b. Consideration
c. Novation
d. Contract
e. Executory contract. Answer: C
◉ Something of value given in exchange for a promise.
a. Mutual consent
b. Consideration
,c. Novation
d. Contract
e. Executory contract. Answer: B
◉ In most states, lease agreements for one year or less are the
exception to the ___________________:
a. SAFE Act
b. Statute of Frauds
c. Statue of Limitations
d. RESPA. Answer: B
◉ A unilateral contract is said to lack _________________.
a. Mutuality
b. Fairness
c. Agreement
d. Signatures. Answer: A
◉ Contracts with a person who lacks mental capacity can be either
void or __________________.
, a. Implied
b. Unilateral
c. Voidable
d. Express. Answer: C
◉ _________________ is often referred to as a "meeting of the minds."
a. A contract
b. Mutual consent
c. Consideration
d. An offer. Answer: B
◉ ________________ is defined as something given in exchange for a
promise.
a. Agreement
b. Consideration
c. Mutual assent
d. Competent parties. Answer: B
◉ A(n) _______________ occurs when a new contract is substituted for
an existing one.
