CONTRACT LAW ACTUAL EXAM PAPER
2026 FULL QUESTIONS WITH CORRECT
ANSWERS
⩥ To create an enforceable contract, which of the following is (are)
needed. Answer: Agreement, consideration, contractual capacity, and a
lawful objective.
⩥ What is the distinguishing characteristic that makes a contract a
formal contract. Answer: A legal requirement that the contract be in
specific form
⩥ What is the process through which an offeree of a contract can
become the offeror by suggesting terms and conditions different from or
in addition to those in the original offer. Answer: Counteroffer
⩥ The imperative that an offeree must accept the terms of the offer
exactly as stated in order for acceptance to exist is know as _______..
Answer: Mirror-imagine rule
⩥ An example of someone who does not have contractual capacity
would be _______.. Answer: A minor and a person considered to be
mentally incompetent
,⩥ Which of the following is NOT a detail about the contract that might
be included in an agreement?. Answer: Counteroffer
⩥ There is no consideration and therefore no enforceable contract for
transactions relating to ____.. Answer: Gifts
⩥ The Uniform Commercial Code, which allows an acceptance which
alters the immaterial details (i.e. place of delivery) of the contract, is an
exception to which standard of contract law?. Answer: Mirror-image rule
⩥ How many parties can participate in a contract?. Answer: Two or
more parties of any kind
⩥ Which of the following is NOT a detail about the contract that might
be included in an agreement?. Answer: Counteroffer
⩥ If a contract omitted some terms, which of the following terms could
be implied by the court?. Answer: Time for performance
⩥ If a contract omitted some terms, which of the following terms could
be implied by the cour. Answer: Prices, if a reasonable price can be
determined
⩥ Without _____, there is no contract.. Answer: Mutual assent
, ⩥ The basic concept that both parties to a contract should have agreed to
the same terms is referred to as _____.. Answer: Mutual assent
⩥ The concept of objective intent with respect to contract law means
that _____.. Answer: the parties' intent to be bound by the terms of a
contract is based on whether an outsider observing the parties' words and
conduct would reasonably conclude that the parties have the needed
intent
⩥ A(n) _____ is used by an offeree to indicate that he/she is not
interested in an offer.. Answer: Rejection
⩥ The circumstances where an offer cannot be withdrawn under
promissory estoppels is known as _____.. Answer: The doctrine of
detrimental reliance
⩥ The requirement that the terms of the acceptance be the same as those
of the offer is the _____.. Answer: mirror image rule
⩥ The mailbox rule means that _____.. Answer: a properly dispatched
acceptance is effective even if the offeror never receives it
⩥ Which is NOT one of the elements required to make a contractual
offer?. Answer: Negotiations
2026 FULL QUESTIONS WITH CORRECT
ANSWERS
⩥ To create an enforceable contract, which of the following is (are)
needed. Answer: Agreement, consideration, contractual capacity, and a
lawful objective.
⩥ What is the distinguishing characteristic that makes a contract a
formal contract. Answer: A legal requirement that the contract be in
specific form
⩥ What is the process through which an offeree of a contract can
become the offeror by suggesting terms and conditions different from or
in addition to those in the original offer. Answer: Counteroffer
⩥ The imperative that an offeree must accept the terms of the offer
exactly as stated in order for acceptance to exist is know as _______..
Answer: Mirror-imagine rule
⩥ An example of someone who does not have contractual capacity
would be _______.. Answer: A minor and a person considered to be
mentally incompetent
,⩥ Which of the following is NOT a detail about the contract that might
be included in an agreement?. Answer: Counteroffer
⩥ There is no consideration and therefore no enforceable contract for
transactions relating to ____.. Answer: Gifts
⩥ The Uniform Commercial Code, which allows an acceptance which
alters the immaterial details (i.e. place of delivery) of the contract, is an
exception to which standard of contract law?. Answer: Mirror-image rule
⩥ How many parties can participate in a contract?. Answer: Two or
more parties of any kind
⩥ Which of the following is NOT a detail about the contract that might
be included in an agreement?. Answer: Counteroffer
⩥ If a contract omitted some terms, which of the following terms could
be implied by the court?. Answer: Time for performance
⩥ If a contract omitted some terms, which of the following terms could
be implied by the cour. Answer: Prices, if a reasonable price can be
determined
⩥ Without _____, there is no contract.. Answer: Mutual assent
, ⩥ The basic concept that both parties to a contract should have agreed to
the same terms is referred to as _____.. Answer: Mutual assent
⩥ The concept of objective intent with respect to contract law means
that _____.. Answer: the parties' intent to be bound by the terms of a
contract is based on whether an outsider observing the parties' words and
conduct would reasonably conclude that the parties have the needed
intent
⩥ A(n) _____ is used by an offeree to indicate that he/she is not
interested in an offer.. Answer: Rejection
⩥ The circumstances where an offer cannot be withdrawn under
promissory estoppels is known as _____.. Answer: The doctrine of
detrimental reliance
⩥ The requirement that the terms of the acceptance be the same as those
of the offer is the _____.. Answer: mirror image rule
⩥ The mailbox rule means that _____.. Answer: a properly dispatched
acceptance is effective even if the offeror never receives it
⩥ Which is NOT one of the elements required to make a contractual
offer?. Answer: Negotiations
