Contract Qwik Quiz 1

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1. Which of the following is not essential to forming a contract?

Consideration.

Acceptance of an offer.

A price based on reasonable market standards.

An offer.

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A short quiz on basic contract law concepts. Learn more at uslawessentials. Com

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The Restatement (Second) of Contracts

Prior cases

Statutes

Natural Law

One party makes a promise.

Unilateral contracts are based on the parties' conduct.

Unilateral contracts are contracts.

Offering a reward may bind a party to a unilateral contract.

It is a federal law, meant to unify commercial business law in the United States.

Most states have a version of the Uniform Commercial Code.

State governments enacted state versions of the Uniform Commercial Code.

Article 2 of the Uniform Commercial Code would not apply to the sale of land.

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