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. Which of the following statements is incorrect?

There is no difference in law between an offer and an invitation to treat. correct incorrect

An offer is a set of terms by which the offeror is willing to be bound. correct incorrect

In bilateral contracts the parties exchange promises. correct incorrect

Acceptance in contract may take effect through conduct and need not necessarily be communicated. correct incorrect

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. The case Fisher v Bell established the following point of law:

All adverts in a magazine will constitute an offer to sell. correct incorrect

A price tag on an item displayed in a shop window must be sold at the displayed price by the retailer. correct incorrect

An item in a shop window displaying a price tag is generally held as an invitation to treat. correct incorrect

All adverts through the internet are considered offers and are not examples of an invitation to treat. correct incorrect

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. Where a contract does not stipulate an expiry date, it will remain open:

forever, until accepted by the offeree. correct incorrect

until expressly revoked by the offeror. correct incorrect

until a counter-offer is made. correct incorrect

for a reasonable time, after which it will automatically expire. correct incorrect

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. Where the offeror has promised to keep open an offer for a specific period of time, he/she:

may revoke the offer before the time has expired where this has been communicated to the offeree. correct incorrect

must keep the offer open for this period of time. correct incorrect

may refuse to go ahead with contract if he/she changed his/her mind but failed to communicate this to the offeree. correct incorrect

may revoke the offer before the expiry of the time limit only where he/she has obtained permission from the offeree. correct incorrect

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. Which of the following is NOT effective communication of acceptance of an offer?

Deviation (which is a quicker form) from the method stipulated in the offer correct incorrect

Silence correct incorrect

Conduct of the contract correct incorrect

Outward evidence of the offeree's intention to accept correct incorrect

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. In relation to instantaneous forms of communication of acceptance, where will acceptance take place?

From the location where the communication via telex is sent. correct incorrect

As soon as a letter of acceptance is posted. correct incorrect

When the acceptance has been received by the offeror. correct incorrect

From the location where the communication by e-mail is sent. correct incorrect

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. The adequacy of the consideration provided in an agreement in establishing an enforceable contract is:

assessed by reference to the 'reasonable man'. correct incorrect

assessed in relation to the consideration provided and an independent assessment of the value of the item being contracted for. correct incorrect

what the court considers is adequate. correct incorrect

a matter for the parties to consider at the time of making the agreement. correct incorrect

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. In relation to existing duties, which of the following statements is incorrect?

Performance of existing duties can never amount to good consideration. correct incorrect

Where the existing duties are exceeded, this may amount to good consideration. correct incorrect

Where the promisee confers a benefit on the other party, this may amount to good consideration. correct incorrect

Where the promisee assists the other party in avoiding a detriment, this may amount to good consideration. correct incorrect

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. An intention to create legal relations will be presumed in which of the following situations?

Between friends and social acquaintances correct incorrect

Between husband and wife correct incorrect

Where parties in a commercial relationship have established the agreement between them is 'in honour only' correct incorrect

Between parties in a commercial relationship correct incorrect

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. Where a meaningless term is used in an agreement, the effect is?

The entire contract will be held unenforceable. correct incorrect

It has no practical effect on the contract - the whole contract is enforceable. correct incorrect

This term, rather than the entire contract, may be held unenforceable. correct incorrect

The courts will order the parties to re-write the contract to more accurately identify what their intentions were. correct incorrect