Contract law worksheet with answers

Which equitable remedy corrects a written contract so it records what the parties actually agreed?

1. ARescission
2. BSpecific performance
3. CRectification
4. DQuantum meruit

Rescission of a contract means:

1. AOrdering a party to perform as promised
2. BCorrecting the wording of a written contract
3. CEnding the contract for the future only and claiming damages for lost profits
4. DSetting the contract aside so the parties return to their original positions

Which English statute allows a third party to enforce a contract term in some cases?

1. AUnfair Contract Terms Act 1977
2. BContracts (Rights of Third Parties) Act 1999
3. CMisrepresentation Act 1967
4. DLaw Reform (Frustrated Contracts) Act 1943

A builder makes a swimming pool shallower than agreed. It is still safe and no less valuable, and rebuilding would cost far more than any benefit. In Ruxley Electronics v Forsyth the owner received:

1. AThe full cost of rebuilding the pool
2. BA modest sum for loss of amenity
3. CNothing, as there was no loss in value
4. DA full refund of the contract price

An actor withdraws from a TV film and the company cannot prove what profit the film would have made. It may claim:

1. AIts wasted expenditure, including costs incurred before the contract
2. BIts estimated profits from the film, even if they are purely speculative
3. CPunitive damages to deter the actor
4. DOnly nominal damages of a small sum

What is consideration in common law contracts?

1. AThe written form of a contract
2. BSomething of value given in exchange for a promise
3. CCareful thought before signing
4. DThe intention to create legal relations shown by both parties

A van is bought "on hire-purchase terms" with no further detail, and such terms varied widely in practice. In Scammell v Ouston, the House of Lords held:

1. AThere was a contract at a reasonable price
2. BThere was no contract, because the terms were too vague
3. CThere was a contract on the standard hire-purchase terms of the market
4. DThe seller's usual terms applied

A posts an offer. A week later A posts a revocation. B receives the offer and immediately accepts by telegram, and only later receives the revocation. Applying Byrne v Van Tienhoven:

1. AA contract was made when B accepted, because the revocation had not yet arrived
2. BThere was no contract, because the revocation was posted before B's acceptance was sent
3. CA contract was made only when B received the revocation
4. DThere was no contract, because offers by post can be revoked at any time