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Quiz- Business Law Practice|46 Questions & Answers
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Quiz- Business Law Practice|46 Questions & Answers
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Quiz- Business Law Practice|46 Questions & AnswersClay offers to pay Dot $50 for a golf lesson for Eula. They agree to meet the day after
tomorrow to exchange the cash for the lesson. These parties have
a. a bilateral contract.
b. a trilateral contract.
c. a unilateral contract.
d. no contract. Correct-a. a bilateral contract
On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of
tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the
work, Neil says that he has changed his mind. These parties had
a. an expired contract when Neil said that he had changed his mind.
b. a quasi contract when Neil said that he would pay for certain work.
c. a unilateral contract as soon as Outdoor began to perform.
d. no contract. Correct-c. a unilateral contract as soon as Outdoor began to perform
Peter offers to pay Quik Delivery(QD) $50 if it picks up and delivers to him a package from
Rico within 30 minutes. QD can accept the offer only by meeting the deadline. If QD performs
as directed, these parties will have
, Quiz- Business Law Practice|46 Questions & Answers
a. a bilateral contract.
b. a trilateral contract.
c. a unilateral contract.
d. no contract. Correct-c. a unilateral contract
Dot, a real estate agent, tells Elbert, a home seller, that her commission is 12 percent. Elbert
agrees that Dot can sell his house but refuses to sign a contract unless the amount of the
commission is reduced. After the house is sold, Elbert refuses to pay 12 percent. Dot is most
likely to recover
a. nothing.
b. on a theory of an express contract.
c. on a theory of an implied-in-fact contract.
d. on a theory of quasi contract. Correct-d. on a theory of quasi contract
Business Properties, Inc. (BPI), offers to sell a warehouse to Corporate Investments. Corporate
says that it will pay BPI $100 to hold the offer open for three business days. BPI agrees. This
a. creates an illegal contract by adding a clause to BPI's offer.
b. makes the offer irrevocable for three days if BPI accepts.
, Quiz- Business Law Practice|46 Questions & Answers
c. negates BPI's offer by changing the price term.
d. voids BPI's offer by extending the time term. Correct-b. makes the offer irrevocable for
three days if BPI accepts
Elmore offers to sell a Ford F-150 for $7,500 to Grace. Before Grace can respond, Elmore refers
to the prices for similar Fords and says, "Forget it. I changed my mind." Elmore's offer was
terminated by
a. Elmore.
b. Ford.
c. Grace.
d. no one—Elmore's offer is still open. Correct-a. Elmore
Jane offers to sell Kyle three desks for his Lights & Lamps Company administrative office. Kyle
sends a rejection first, then changes his mind and sends an acceptance. Whether they have a
contract is determined by
a. Kyle's rejection.
b. Kyle's subjective intent.
c. whatever Jane decides.
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