ACCA 2026 LW Corporate Law Contract Law Free Quiz 1

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ACCA 2026 LW Corporate Law Contract Law Free Quiz 1

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ACCA 2026 LW Corporate Law Contract Law Free Quiz 1

Practice ACCA 2026 LW Corporate Law MCQs from Contract Law. Get instant results with Explanation.

General10 MCQs

1. What are the essential elements of a valid contract?

A. There are three essential elements: offer, acceptance, and considerationB. There are five essential elements: offer, acceptance, consideration, intention, and certaintyC. There are four essential elements: offer, acceptance, consideration, and intentionD. There are six essential elements: offer, acceptance, consideration, intention, certainty, and capacity

2. What is the difference between an offer and an invitation to treat?

A. An offer is the same as an invitation to treatB. An invitation to treat is a binding offerC. An offer is a definite promise to be bound; an invitation to treat is notD. An offer does not need to be communicated

3. What is the rule on acceptance in contract law?

A. Acceptance must be communicated to the offeror and be unqualifiedB. Acceptance can be implied by silenceC. Acceptance does not need to be communicatedD. Acceptance can be made after the offer has lapsed

4. What are the rules on consideration?

A. Consideration must be adequate (equal value)B. Past consideration is validC. Consideration must move from the promisorD. Consideration must be sufficient, not past, and move from the promisee

5. What is the rule on intention to create legal relations?

A. Intention to create legal relations is always presumed in all agreementsB. Intention to create legal relations is presumed in commercial agreements but not in social/domesticC. Intention is not required for a contractD. Intention is only required for written contracts

General10 MCQs

6. What is the postal rule in contract law?

A. Acceptance by post is effective when receivedB. The postal rule applies to all communicationsC. Acceptance by post is effective when posted (postal rule)D. The postal rule does not apply to acceptances

7. What is the effect of a counter-offer?

A. A counter-offer destroys the original offerB. A counter-offer is the same as an acceptanceC. A counter-offer is a mere request for informationD. A counter-offer does not affect the original offer

8. What are the remedies for breach of contract?

A. The only remedy for breach of contract is damagesB. Specific performance is available for all types of contractsC. Rescission is the same as damagesD. Remedies for breach include damages, specific performance, injunction, and rescission

9. What are the rules on exclusion clauses?

A. Exclusion clauses are always validB. Exclusion clauses are subject to tests of reasonableness and fairnessC. Exclusion clauses cannot be used in business contractsD. Exclusion clauses do not need to be brought to attention

10. What is misrepresentation in contract law?

A. Misrepresentation is a false statement of opinionB. Misrepresentation only applies to written contractsC. Misrepresentation is a false statement of fact that induces a contractD. Misrepresentation is the same as a breach of contract

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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