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B Law Test 2 Ch. 12 Questions &Exam (elaborations) answers 100% satisfaction guarantee
B Law Test 2 Ch. 12 Questions &Exam (elaborations) answers 100% satisfaction guarantee
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B Law Test 2 Ch. 121. Do the offeror's words and actions indicate an intention to make a bargain?
2. Are the terms of the offer definite? - ✔✔Select the two questions that determine whether a
statement is an offer:
1. If the offer insisted on its own terms
2. If the terms materially alter the contract
3. If the offeror promptly rejects the new terms - ✔✔Under the UCC, in which of the following
circumstances would additional terms in an acceptance not become a part of the contract?
A contract was formed when Andrew mailed his acceptance on Wednesday. - ✔✔On Friday, Billy
mails Andrew an offer, which Andrew receives on Monday. On Tuesday, Billy mails Andrew a
revocation, which Andrew does not receive until Thursday. Andrew takes no action when he receives
the revocation. Meanwhile Andrew mailed Billy an acceptance on Wednesday that Billy receives on
Friday. Is a contract formed, and if so, on what day?
a note scribbled on a restaurant napkin that includes the details of the offer - ✔✔Which of the
following are generally considered to be legal offers?
0%
a request for offers, very specific terms - ✔✔Generally, an advertisement is ______. If an
10
advertisement includes _____ it can be considered an offer.
An interested purchaser buys the right to have the offer held open for a certain period of time. -
✔✔Define: Option Contract
An offer that can never be accepted. - ✔✔Define: Terminated Offer
common-law, mirror-image rule, counteroffer, rejects - ✔✔Under the ____ , the ______ means that
an acceptance that adds to or contradicts an offer is generally considered a(n) ______ and it _____
the original offer.
Counter offer, rejection - ✔✔Which of the following are ways in which an offer can be rejected?
False - ✔✔A letter of intent summarizes progress made during business negotiations, but more
importantly, it creates a binding contract.
False - ✔✔April put an advertisement in the newspaper advertising the sale of her computer for
$500. Simultaneously, six people responded to the ad by mail with formal written acceptances. April is
bound on all six contracts to sell her computer for $500.
, False - ✔✔Clickwrap terms are never binding.
False - ✔✔On Monday, Mick puts an offer in the mail to Sheri to sell his guitar for $50. Monday night
when jamming with his buddies, he decides he will really miss his old guitar and has second thoughts
about selling it. Tuesday morning he puts a revocation in the mail informing Sheri he has changed his
mind and the guitar is no longer for sale. The revocation is effective on Tuesday morning.
False - ✔✔Vick Valve Company makes valves for plumbing fixtures. At the beginning of the year, it
sends out a price list addressing each one, "To our valued customers." Honest Hank Hardware orders
a variety of valves at the prices quoted on the price list. Vick Valve must honor the prices on the list
and sell the valves to Honest Hank.
False - ✔✔When Olga asks Sven if he wishes to sell his Harley motorcycle, he replies that he would
not sell it "for less than $2,000." Olga replies, "I accept," and hands him $2,000. A contract exists.
Firm offers, A writing signed by a merchant offering to hold open an offer for the sale of goods for a
stated period, Option contracts. - ✔✔Which of the following offers are considered to be irrevocable
for a given period?
0%
how the parties' conduct would be interpreted by a reasonable person - ✔✔In assessing the validity
10
of a contract, the court will consider
indefinite, definite - ✔✔Contracts made under the UCC can be _____ ; offers under the common law
must be ___.
is not valid because it is not definite. - ✔✔Peter says to Carolina: "My property is about 2 acres, and
I'll need you to clean it up. I pay the going rate. Start work at some point next week." This job offer
probably
manner of acceptance - ✔✔Which term refers to whether an offeree accepts an offer by promising,
by making a down payment or by performing?
Mary's counteroffer terminates Carl's offer of $1,500. - ✔✔Collector Carl displays his beer can
collection at the local swap meet. Mary sees the collection and is interested in buying it. Carl says he
will sell the collection for $1,500. Mary says she really likes the collection but is only willing to pay
$1,000. Which of the following is correct?
may or may not be an offer, depending on the exact language and whether the document indicates
that the parties have reached an agreement. - ✔✔Hensley and Boyer have been negotiating for
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