FE-1 Law of Contract Practice Questions - FE-1 Final Examination - First Part Law of Contract Exam - FE-1 Law of Contract Practice Questions - FE-1 Final Examination

Question 1

A shopkeeper displays a jacket in the window marked "€50". A customer enters and says, "I will take that jacket at the marked price." The shopkeeper refuses to sell. Which statement best reflects Irish contract law?

The display is an invitation to treat; the customer's statement is the offer, which the shopkeeper may refuse. The display is an offer, so the shopkeeper is bound to sell once the customer indicated acceptance. A binding contract was formed the moment the customer entered the shop intending to buy. The shopkeeper must sell because advertising a price is a unilateral offer to the world.

Correct Answer:

The display is an invitation to treat; the customer's statement is the offer, which the shopkeeper may refuse.

Question 2

A company advertised a chemical smoke ball, promising to pay £100 to anyone who used it as directed and still caught influenza, and stated it had deposited money in a bank to show sincerity. A purchaser used it correctly and caught the flu. Applying the principle most influential in Irish law, what is the position?

No contract arose because the advertisement was mere sales puff with no intention to be bound. A binding unilateral contract arose; performing the stipulated conditions constituted acceptance. No contract arose because the purchaser never communicated acceptance before using the product. A contract arose only if the purchaser first notified the company of an intention to use the product.

Correct Answer:

A binding unilateral contract arose; performing the stipulated conditions constituted acceptance.

Question 3

A offers by letter to sell goods to B and asks for a reply. B posts a letter of acceptance which is correctly addressed and stamped, but it is delayed and never arrives. The post was a reasonable means of reply. When, if at all, is the contract formed?

No contract is formed because A never received the acceptance. A contract is formed only when A acknowledges B's reply. A contract is formed when B posts the letter of acceptance. A contract is formed when the letter would ordinarily have arrived.

Correct Answer:

A contract is formed when B posts the letter of acceptance.

Question 4

A offers to sell a car to B for €5,000. B replies, "I will give you €4,500." A refuses. B then says, "Very well, I accept your original price of €5,000." A says the deal is off. Is there a binding contract at €5,000?

Yes, because B ultimately matched A's stated price exactly. Yes, because a counter-offer does not affect the validity of the original offer. No, because the price was uncertain throughout the negotiations. No, because B's counter-offer destroyed the original offer, which was no longer open to accept.

Correct Answer:

No, because B's counter-offer destroyed the original offer, which was no longer open to accept.

Question 5

A promises to keep an offer to sell land open to B for 14 days. On day 5, A sells the land to C. B, who had given no money for the promise to keep the offer open, seeks to hold A to the 14-day period. What is the legal position?

A may revoke the offer at any time before acceptance because B provided no consideration for the promise to keep it open. A is bound for 14 days because A expressly promised to keep the offer open. A is bound because a promise to keep an offer open is enforceable without consideration. B can sue A for breach of the 14-day promise regardless of consideration.

Correct Answer:

A may revoke the offer at any time before acceptance because B provided no consideration for the promise to keep it open.

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Prepare with the FE-1 Law of Contract Practice Questions - FE-1 Final Examination - First Part Law of Contract Exam practice quiz. This question bank includes 100 questions covering contract, party, buyer, goods, and irish. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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FE-1 Law of Contract Practice Questions - FE-1 Final Examination - First Part Law of Contract Exam

This practice set contains 100 questions from the matching question bank and focuses on contract, party, buyer, goods, and irish. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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FE-1 Law of Contract Practice Questions - FE-1 Final Examination - First Part Law of Contract Exam

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