Chapter 12 Quiz

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Question #1

For a contact to be considered valid and enforceable, the parties to a deal must

A necessarily have it in writing.

B subjectively intend to agree to the terms.

C manifest their voluntary consent to the same bargain.

D know with certainty what kinds of promises will be enforced.

Question #2

An offer terminates automatically when the period of time specified in the offer has passed.

A False

B True

Question #3

Coffee Beans Inc. offers to buy Brewing Company’s roasting services for a certain price. Brewing responds that the price is too low and thereby rejects the offer. The offer is

A valid for the period of time prescribed by a state statute.

B terminated.

C valid for a reasonable time.

D valid until Coffee Beans revokes the offer.

Question #4

Simone offers Tom a dozen guitar lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer

A before April 1, whether or not Tom has accepted it.

B before Tom accepts it.

C only after April 1.

D only after Tom accepts it.

Question #5

The offeree must accept the offer without adding or changing any terms.

A True

B False

Question #6

Megan gives out a business card with an e-mail address on it. It is reasonable to infer that Megan has consented to

A transact business electronically.

B submit to the recipient’s jurisdiction.

C respond to e-mail sent to that address.

D nothing.

Question #7

Lon says to Misty, “I would like to sell you my sofa.” This statement is

A a request, not an offer.

B an offer.

C an invitation to negotiate, not an offer.

D an ad, not an offer.

Question #8

An ad for the New Plays Festival asks playwrights to submit their work and “we might produce it for the world.” Oded submits a play with a note that states, “I accept.” Between the Festival and Oded, there is

A a contract to produce Oded’s play.

B none of the choices.

C a contract to negotiate with Oded to produce the play.

D a contract to consider producing Oded’s play.

Question #9

Acceptance is timely if it is effective before the offer is terminated.

A False

B True

Question #10

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

A False

B True

Question #11

Rejection of an offer is effective only when it is actually received.

A True

B False

Question #12

An expression of opinion can indicate an intent to enter into a binding agreement.

A False

B True

Question #13

To control specific offers for goods or services and thus the resulting contracts, important terms to provide online include

A a detailed history of the particular business.

B an updated list of the goods or services.

C a provision relating to the resolution of any dispute.

D positive reviews from customers or clients.

Question #14

An offer must express reasonably definite terms to be effective—no term may be reasonably inferred.

A True

B False

Question #15

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis. Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time. With respect to this offer

A the deal is done.

B the deal is binding except for the promise to hold the offer open.

C a reasonable period of time is implied.

D the offer must be held open for an indefinite period.

Question #16

Acceptance may consist of words or conduct.

A True

B False

Question #17

A request to negotiate is an offer.

A False

B True

Question #18

Bo admires Cid’s collection of coins. Bo asks, “Will you sell it?” This statement is

A an offer.

B not an offer, because it is a request.

C not an offer, because it is an invitation to negotiate.

D not an offer, because it is an expression of intent.

Question #19

A click-on agreement can indicate the acceptance of an online offer.

A True

B False

Question #20

An agreement to agree to the material terms of a contract at some future date may be enforceable.

A False

B True

Question #21

Hometown Bank posts on its website an offer of a reward for information leading to the apprehension of a certain criminal. This offer could normally be terminated by

A payment of the reward.

B a post on the website.

C apprehension of the criminal.

D any of the choices.

Question #22

In effect, a counteroffer converts the original offeror into an offeree with the power of acceptance.

A True

B False

Question #23

Pye tries to start his car with no success. He yells that he will sell the car to anyone for $10. Qua, a passerby, hears Pye’s yell. This is not an effective offer because it lacks

A communication.

B definite terms.

C serious intent.

D practicality.

Question #24

Shipping Corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce. Between Shipping and its customers, the UETA applies if the parties agree to conduct transactions by

A paper documents.

B electronic means.

C any of the choices.

D verbal communication.

Question #25

Domestic Gas Company offers to sell Energy Ltd. a certain quantity of liquefied natural gas. If Energy sends an acceptance via Domestic’s authorized mode of communication, it will be effective when it is

A sent.

B in transit.

C written.

D received.

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