Business Degree Certification Practice Test

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Under common law, what must mirror each other in a contractual agreement?

Contract and consideration.
Contract and offer.
Acceptance and offer.
Acceptance and contract.

The correct answer is: Acceptance and offer.

In a contractual agreement under common law, acceptance and offer must mirror each other. This principle is rooted in the "mirror image rule," which states that for a contract to be valid, the acceptance of the offer must exactly match the terms of the offer made. Any alteration or deviation in the acceptance constitutes a counteroffer rather than an acceptance, thereby leading to a potential breakdown in the formation of a contract. When an acceptance reflects the terms of the offer precisely, it indicates mutual agreement between the parties involved, which is essential for the contract's enforceability. This symmetry ensures that both parties understand and agree to the same terms, fostering clarity and reducing the potential for disputes. The other options, while related to the contract formation process, do not correctly capture the principle of mirroring as defined in contract law. Contract and consideration refers to the elements required for a contract but does not signify a mirroring relationship. Similarly, while the relationship between acceptance and contract is important, it does not adhere to the mirror image rule that specifically pertains to the relationship between acceptance and offer.