Meaning and validity of a simple contract - Jamb Commerce Past Questions and Answers

Question 36:

• JAMB 2018

What do we call agreement between two people enforced by law?

A. Consideration
B. Offer
C. Contract
D. Agreement

Question 37:

• JAMB 2019

In a law of contract, what is given in exchange for a promise to perform is_____

A. Offer
B. Acceptance
C. Warranty
D. Consideration

Question 38:

• JAMB 2019

The policy used when contracts are awarded as a result of tender is________

A. Market penetration
B. Market skimming
C. Bid Pricing
D. Product Line Pricing

Question 39:

• JAMB 2019

An offer extended to several people at once is called

A. Acceptance
B. Offeror
C. Invitation to threat
D. Consideration

Question 40:

• JAMB 2019

A conter offer is an offer that is

A. Different from the original offer
B. Breached
C. Different in terms of acceptance
D. Extended to several people at once