CONTRACT LAW EXAM 2025
QUESTIONS AND ANSWERS
contract - ....ANSWER ...-a formalized agreement between two parties to
perform or refrain from performing one or more particular things
meeting of the minds - ....ANSWER ...-The mutual consent of all parties
involved in making a contract is crucial for a contract to be considered legal. This
mutual agreement is commonly referred to
offeror - ....ANSWER ...-make a proposal to enter into a contract
offeree - ....ANSWER ...-the party to which the offer is made
revocation of offer - ....ANSWER ...-The offeror may also take back the
offer before it's accepted, a move known legally
consideration - ....ANSWER ...-something given in exchange for the action
to be performed or the promise to refrain from performing something.
Consideration often takes the form of money
nudum pactum - ....ANSWER ...-a barren promise
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, promisor - ....ANSWER ...-The party promising the gift of the property or
service
promisee - ....ANSWER ...-the party to whom the promised gift is made is
known
In legal practice, contracts are frequently defined and discussed using the following
categories: - ....ANSWER ...--Express and implied
-Formal and informal
-Bilateral and unilateral
Valid, void, and voidable
-Enforceable and unenforceable
-Executed and executory
express contract - ....ANSWER ...-one in which the parties clearly and
deliberately state the terms of the contract, either orally or in writing
implied contract - ....ANSWER ...-an agreement in which the terms aren't
clearly spelled out and agreed upon
contract "implied In fact" - ....ANSWER ...-arises from the conduct of the
parties involved, rather than from their express statements
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
QUESTIONS AND ANSWERS
contract - ....ANSWER ...-a formalized agreement between two parties to
perform or refrain from performing one or more particular things
meeting of the minds - ....ANSWER ...-The mutual consent of all parties
involved in making a contract is crucial for a contract to be considered legal. This
mutual agreement is commonly referred to
offeror - ....ANSWER ...-make a proposal to enter into a contract
offeree - ....ANSWER ...-the party to which the offer is made
revocation of offer - ....ANSWER ...-The offeror may also take back the
offer before it's accepted, a move known legally
consideration - ....ANSWER ...-something given in exchange for the action
to be performed or the promise to refrain from performing something.
Consideration often takes the form of money
nudum pactum - ....ANSWER ...-a barren promise
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, promisor - ....ANSWER ...-The party promising the gift of the property or
service
promisee - ....ANSWER ...-the party to whom the promised gift is made is
known
In legal practice, contracts are frequently defined and discussed using the following
categories: - ....ANSWER ...--Express and implied
-Formal and informal
-Bilateral and unilateral
Valid, void, and voidable
-Enforceable and unenforceable
-Executed and executory
express contract - ....ANSWER ...-one in which the parties clearly and
deliberately state the terms of the contract, either orally or in writing
implied contract - ....ANSWER ...-an agreement in which the terms aren't
clearly spelled out and agreed upon
contract "implied In fact" - ....ANSWER ...-arises from the conduct of the
parties involved, rather than from their express statements
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
