1. The following are necessary elements to make a valid contract:

a. Intention

b. That it be in writing

c. Revocation

d. Quantum meriut

e. All of the above

2. Which of the following statements are true about offers:

a. They can be withdrawn at any time prior to acceptance

b. Once an offer is rejected it is no longer available to be accepted

c. It will lapse within a reasonable time if no time limit is imposed for acceptance

d. All of the above

e. None of the above

8. Jones is selling his Ski-Doo. Steeves offers Jones $10,000.00 for the Ski-Doo. Jones counters at $12,000.00. Steeves indicates that he needs time to think about it and asks that he be given until the next day to decide. Jones agrees. Later that day, Curley offers Jones $15,000.00. Jones accepts. Which of the following statements is true:
   1. Jones and Curley have a valid contract.
   2. If Steeves contacts Jones and accepts the $12,000.00, then Steeves has a valid contract with Jones.
   3. If Jones contacts Steeves and withdraws before Steeves accepts, then this is a valid withdrawal of offer.
   4. All of the above are true.
   5. None of the above are tru

9. Which of the following persons do not have capacity to contract:
   1. People who are insane.
   2. Persons under the age of 18 years.
   3. People who are physically challenged.
   4. People who are non-residents.
   5. all of the above
   6. a and c
   7. a and b.

10. The following contracts must be in writing in order for them to be enforceable:
    1. Contracts for the purchase and sale of land.
    2. All leases, regardless of the duration.
    3. A guarantee.
    4. A pre-nuptial agreement.
    5. a, c and d only
    6. a and d only