Contract Formation and Termination Quiz

Test your knowledge of contract law with questions on essential elements, termination types, legal terms, and principles.

#1

Which of the following is an essential element for a valid contract?

Verbal agreement
Consideration
Casual discussion
Informal writing
#2

Which element is NOT required for a contract to be considered valid?

Offer and acceptance
Legal purpose
Competency of the parties
Mutual feelings
#3

Which of the following is a type of termination of a contract that occurs when both parties agree to end the contract?

Termination for convenience
Termination by frustration
Mutual rescission
Termination for breach
#4

What is the term for a situation where one party is induced to enter into a contract by the wrongful conduct of the other party?

Duress
Undue influence
Misrepresentation
Breach of contract
#5

What is the legal term for the act of substituting a new contract for an old one?

Bilateral contract
Novation
Unilateral contract
Executed contract
#6

What is the legal term for the withdrawal of an offer before it is accepted?

Acceptance
Revocation
Counteroffer
Consideration
#7

In contract law, what does 'quid pro quo' refer to?

Breach of contract
Consideration
Offer and acceptance
Void contract
#8

What is the term for a contract in which the terms are explicitly stated, either orally or in writing?

Express contract
Implied contract
Void contract
Unilateral contract
#9

In contract law, what is the 'mailbox rule'?

A rule about the shape of the contract
A rule about acceptance being effective upon dispatch
A rule about email communication
A rule about the use of mail in contracts
#10

In contract law, what does the term 'anticipatory breach' refer to?

A breach that occurs before the contract is formed
A breach that occurs during the contract performance
A breach of an implied contract
A breach that is expected but has not yet occurred
#11

Which legal principle allows a party to recover damages even if they did not suffer actual losses due to a breach of contract?

Mitigation of damages
Liquidated damages
Punitive damages
Nominal damages
#12

Which legal doctrine allows a court to refuse to enforce a contract that is excessively one-sided?

Statute of frauds
Doctrine of good faith
Unconscionability
Parol evidence rule
#13

What is the term for the termination of a contract due to a fundamental breach by one party?

Rescission
Novation
Frustration
Repudiation
#14

Which type of contract involves one party making a promise in exchange for the other party's performance?

Unilateral contract
Bilateral contract
Executed contract
Quasi-contract
#15

What is the legal term for a contract that has no legal effect and is not enforceable by the court?

Voidable contract
Void contract
Executed contract
Unilateral contract
#16

What is the term for a situation where a party is released from the obligation to perform under a contract due to unforeseen and uncontrollable circumstances?

Breach of contract
Novation
Force majeure
Rescission
#17

Which type of contract involves a promise exchanged for another promise, and both parties are bound to perform?

Unilateral contract
Bilateral contract
Executed contract
Quasi-contract

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