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CPA REG: Contract Law Exam Questions and Answer 100% Solved | Rated A+ $9.49   Add to cart

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CPA REG: Contract Law Exam Questions and Answer 100% Solved | Rated A+

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  • CPA - Certified Public Accountant
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  • CPA - Certified Public Accountant

CPA REG: Contract Law Exam Questions and Answer 100% Solved | Rated A+ 3 parts of a valid contract - 1. Offer 2. Acceptance 3. Consideration Offer (and components) - Offerer expresses a willingness to enter into contract with offeree: 1. Definite terms (who, what, when, how much) 2. Intent...

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  • September 26, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CPA - Certified Public Accountant
  • CPA - Certified Public Accountant
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CPA REG: Contract Law Exam

Questions and Answer 100% Solved |

Rated A+


3 parts of a valid contract - ✔✔1. Offer

2. Acceptance

3. Consideration

Offer (and components) - ✔✔Offerer expresses a willingness to enter into

contract with offeree:

1. Definite terms (who, what, when, how much)

2. Intent

3. Communicated to offeree (when constructively received!)

Is a newspaper ad an offer? - ✔✔No, because a mere invitation to offer,

not actual intent.

Is "this offer is valid to the first 10 people!" considered an offer? - ✔✔Yes!

limits the scope.

, Express vs Implied-in-fact contract - ✔✔Express: oral/written with explicit

terms of who, what, when, where, how much

Implied-in-fact: behavior makes it clear of terms (don't need to expressly

write it out.

If you (both) agree to mow neighbors lawn for $10 and have already done

it, is it express or implied? - ✔✔implied terms because already performing

behavior

Implied-in-law (Quasi Contract) - ✔✔courts decide that parties should be

treated as if had an agreement in order to avoid one party being unjustly

enriched at expense of another



...ex. "poor" person gets free doc services and doc finds out they're rich.

Can go to court and allowed to bill for normal services.

When does an offer terminate? - ✔✔-expire

-revoked

-rejected

-counteroffer

-operation of law (death, illegal, destructed)

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