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BUSN 201 Ch. 2 Questions With Revised
Answers
An offer may not be revoked before it is accepted. - answer✔✔false
Under the mailbox rule, an acceptance becomes valid when it is dispatched. - answer✔✔true
An illusory promise is a promise that is enforceable without consideration. - answer✔✔false
Mallory promises to buy illegal digital copies of movies from Nick, who promises to deliver on
October 31. These promises are most likely - answer✔✔void
A covenant not to sue is against public policy. - answer✔✔false
Calltime Phones & Minutes, Inc., makes an offer to Delores to enter into a contract to work as a
salesperson for a certain base salary plus commission for ninety days subject to a one-year
renewal based on her performance. Delores accepts the offer. A valid contract requires -
answer✔✔an offer and an acceptance.
A promise by one party to pay another for refraining from an action that one has a legal right to
undertake is enforceable. - answer✔✔true
Clay offers to pay Dot $50 for a golf lesson for Erin. They agree to meet the day after tomorrow
to exchange the cash for the lesson. These parties have - answer✔✔a bilateral contract.
Play-It-Loud, LLC, provides music-streaming services online subject to complex pricing
schedules. To control specific offers for the services and thus the resulting contracts, important
terms to provide online include - answer✔✔a provision relating to the resolution of any dispute.
A forum-selection clause indicates the location for the resolution of any dispute arising under the
contract. - answer✔✔true
An implied contract is not an actual contract. - answer✔✔false
Most advertisements—"this property for sale"—are offers. - answer✔✔false
An unenforceable contract is one that cannot be enforced because of certain legal defenses
against it. - answer✔✔true
BUSN 201 Ch. 2 Questions With Revised
Answers
An offer may not be revoked before it is accepted. - answer✔✔false
Under the mailbox rule, an acceptance becomes valid when it is dispatched. - answer✔✔true
An illusory promise is a promise that is enforceable without consideration. - answer✔✔false
Mallory promises to buy illegal digital copies of movies from Nick, who promises to deliver on
October 31. These promises are most likely - answer✔✔void
A covenant not to sue is against public policy. - answer✔✔false
Calltime Phones & Minutes, Inc., makes an offer to Delores to enter into a contract to work as a
salesperson for a certain base salary plus commission for ninety days subject to a one-year
renewal based on her performance. Delores accepts the offer. A valid contract requires -
answer✔✔an offer and an acceptance.
A promise by one party to pay another for refraining from an action that one has a legal right to
undertake is enforceable. - answer✔✔true
Clay offers to pay Dot $50 for a golf lesson for Erin. They agree to meet the day after tomorrow
to exchange the cash for the lesson. These parties have - answer✔✔a bilateral contract.
Play-It-Loud, LLC, provides music-streaming services online subject to complex pricing
schedules. To control specific offers for the services and thus the resulting contracts, important
terms to provide online include - answer✔✔a provision relating to the resolution of any dispute.
A forum-selection clause indicates the location for the resolution of any dispute arising under the
contract. - answer✔✔true
An implied contract is not an actual contract. - answer✔✔false
Most advertisements—"this property for sale"—are offers. - answer✔✔false
An unenforceable contract is one that cannot be enforced because of certain legal defenses
against it. - answer✔✔true
