| A | B |
|---|
| An offer must always be made seriously for it to be legal. | True |
| Consideration is the legal ability to enter a contract. | False |
| A person may win a lawsuit for fraud even if no loss is suffered. | False |
| When actual physical force is used to cause another person to enter a contract, the contract is void. | True |
| For a contract to be considered unconscionable, there must be equal power between the parties involved. | False |
| When a bilateral contract is made, one person makes a promise to do something if and when another person does something. | True |
| An oral contract is not enforceable by law. | False |
| Capacity rules allow minors, people with mental impairments, and people under the influence of drugs and alcohol to disaffirm a contract. | True |
| A minor may affirm part of a contract while disaffirming another part. | False |
| Minors are not allowed to enter into any contracts. | False |
| A person may win a lawsuit for fraud even if no loss is suffered. | False |
| The time at which an acceptance takes place is when a contract comes into existence. | True |
| An oral contract is legal. | True |
| When a bilateral mistake is made, neither party may void the contract. | False |
| A valid contract must contain at least four of the six elements of a contract. | False |
| Advertisements in newspapers, price tags, and signs in store windows are treated by the law as invitations to negotiate. | True |
| One of the characteristics of consideration is that it must involve something of value. | True |
| Contracts for clothing and motor vehicles are examples of exceptions to the mirror image rule. | True |
| Most contracts are created as bilateral contracts. | True |
| An offer does not always have to be made seriously for it to be legal. | False |
