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Contract Law Terms: Definitions & Contract Types

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following must be part of a contract for it to be enforceable?

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1. The act of both parties agreeing to carry out their promise is which element of a contract?

2. Dennis told his coworkers that if he wins at the casino, he will, in his own words, 'help them out financially'. What can this be considered as?

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About This Quiz & Worksheet

This quiz and worksheet gauge your understanding of the different types of contract law. You will be assessed on different types of contracts, such as express contracts and oral contracts.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • Implied in-fact contract
  • Implied in-law contract
  • The elements of a contract
  • Illusory promise
  • The term for money or something of interest in contract elements

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Information recall - access the knowledge you've gained regarding the six elements of a contract
  • Distinguishing differences - compare and contrast implied in-fact contracts and implied in-law contracts
  • Critical thinking - apply what you've learned about contract law to discuss different legal scenarios
  • Defining key concepts - ensure that you can accurately define and discuss terms like restitution and unjust enrichment

Additional Learning

To learn more about contract law, review the lesson on Contract Law Terms and Types. This lesson covers the following objectives:

  • Explore the elements of a contract
  • Differentiate between express contracts, implied in-law contracts and implied in-fact contracts
  • Examine what makes a quasi-contract
  • Define terms like illusory promise
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