Contract law exam questions and answers uk

'Consideration' is the price given in exchange for goods or services under a contract, or a promise to do (or not to do) something in return.
The price is usually money – but can be anything that has value.
What are the basic principles of contract law in the UK?
A basic binding contract must comprise four key elements: offer, acceptance, consideration and intent to create legal relations..
What is basic contract law UK?
A valid contract requires the presence of three elements: an agreement; an intention to create legal relations: this is an intention to form a legally binding relationship, and; consideration: ie..
Contract acceptance is the act of agreeing to form a legally binding agreement based on an offer provided by the other party.
It is an essential element of a contract, and without it, a contract will not be valid or binding.

What are the basic principles of contract law in the UK?