Business Contracts MCQs

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1. A contract becomes legally binding when there is:



2. Consideration in a contract means:



3. A void contract is:



4. A minor (under 18) entering a contract makes it:



5. The document containing terms agreed by both parties is called:



6. Which of the following is essential for a valid contract?



7. A contract signed under pressure is:



8. When both parties are mistaken about a fact, the contract is:



9. An agreement without consideration is:



10. The person who makes an offer is called:



11. The acceptance of an offer must be:



12. Breach of contract means:



13. A contract that can be enforced by either party is called:



14. A promise made without intention to perform is:



15. A contract involving illegal activities is:



16. A contract must be made by parties who are:



17. A contingent contract depends on:



18. Performance of a contract means:



19. Quasi-contracts are created by:



20. Acceptance is complete when:



21. When parties mutually decide to end a contract, it is called:



22. Undue influence occurs when one party:



23. An agreement in restraint of trade is generally:



24. Implied contracts arise from:



25. When a contract can’t be performed due to impossibility, it becomes:



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