Contracts (Grade 10 NSC Matric Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What makes a contract 'binding' in business?
What makes a contract 'binding' in business?
It can be legally enforced by courts
What is the legal age required for contractual capacity in South Africa?
What is the legal age required for contractual capacity in South Africa?
18 years or older
Who cannot enter into valid binding contracts?
Who cannot enter into valid binding contracts?
Minors and insolvent people
Which contract would be legally impossible to enforce?
Which contract would be legally impossible to enforce?
A contract to sell stolen goods
Can verbal agreements be legally binding contracts?
Can verbal agreements be legally binding contracts?
Yes, if they can be proven
What makes a contract voidable?
What makes a contract voidable?
Misrepresentation, fraud, or duress
What must contract terms be to meet legal requirements?
What must contract terms be to meet legal requirements?
Clear, specific, and easily understood
When can a contract be terminated?
When can a contract be terminated?
When conditions met, agreed, or breached
What must happen if one party breaks a contract?
What must happen if one party breaks a contract?
Other party must be compensated for losses
When does a written contract become legally binding?
When does a written contract become legally binding?
After all parties have signed it