Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A)  a contract to produce Oded's play. 
B)  a contract to consider producing Oded's play. 
C)  a contract to negotiate with Oded to produce the play. 
D)  none of the choices. 
A)  a contract to produce Oded's play. 
B)  a contract to consider producing Oded's play. 
C)  a contract to negotiate with Oded to produce the play. 
D)  none of the choices.

Question 3

The power of acceptance continues forever.

Accepted Answer

A) True 
 B)False

Question 4

Owen decides to sell his ranch, Pine Ridge, in a live auction. When the auctioneer puts the property up for bids, it will be

Accepted Answer

A)  an offer. 
B)  an invitation to submit offers, not an offer itself. 
C)  a circular, not an offer. 
D)  a price list, not an offer. 
A)  an offer. 
B)  an invitation to submit offers, not an offer itself. 
C)  a circular, not an offer. 
D)  a price list, not an offer.

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

An offer can be revoked by the performance of an act that is inconsistent with the existence of an offer and that is made known to the offeree.

Accepted Answer

A) True 
 B)False

Question 7

Before the UETA applies, each party to a transaction must agree to conduct it by electronic means.

Accepted Answer

A) True 
 B)False

Question 8

Charter Company offers to provide an air-conditioned bus to Denny's tour group for $1,500 plus the cost of the fuel. The mailbox rule applies if Denny accepts the offer by

Accepted Answer

A)  e-mail. 
B)  phone. 
C)  regular mail. 
D)  any of the choices. 
A)  e-mail. 
B)  phone. 
C)  regular mail. 
D)  any of the choices.

Question 9

Larry advertises a reward for the return of his lost dog. Miguel does not learn of the reward, but finds and returns the dog. With respect to Miguel, Larry's ad is not an offer because it lacks the element of

Accepted Answer

A)  communication. 
B)  definite terms. 
C)  serious intent. 
D)  none of the choices. 
A)  communication. 
B)  definite terms. 
C)  serious intent. 
D)  none of the choices.

Question 10

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

Accepted Answer

A)  transact business electronically. 
B)  submit to the recipient's jurisdiction. 
C)  respond to e-mail sent to that address. 
D)  nothing. 
A)  transact business electronically. 
B)  submit to the recipient's jurisdiction. 
C)  respond to e-mail sent to that address. 
D)  nothing.

Question 11

Acceptance of an offer by a method not authorized by the offeror renders the offer invalid.

Accepted Answer

A) True 
 B)False

Question 12

The primary purpose of the Uniform Electronic Transactions Act is to create new rules for electronic contracts.

Accepted Answer

A) True 
 B)False

Question 13

Business Software Corporation (BSC) sells business apps-wage, price, and inventory coordinating programs, for example-in different combinations and packages, at different prices, downloadable online. To complete a deal, a purchaser clicks on a button that, with reference to certain terms, states, "I agree." What is this agreement called? Do the parties have a binding, enforceable contract that includes the terms? Explain.

Accepted Answer

This is a click-on agreement, which occu

Question 14

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

Accepted Answer

A)  communication. 
B)  definite terms. 
C)  serious intent. 
D)  practicality. 
A)  communication. 
B)  definite terms. 
C)  serious intent. 
D)  practicality.

Question 15

An agreement exists when one party offers a certain bargain to another party.

Accepted Answer

A) True 
 B)False

Question 16

Fresh Agro Inc. offers to deliver produce to Growers' Market for a certain price. Fresh's intent to extend an offer is determined by reference to Fresh's

Accepted Answer

A)  market assumptions. 
B)  all of the choices. 
C)  subjective, unexpressed intentions. 
D)  words and actions. 
A)  market assumptions. 
B)  all of the choices. 
C)  subjective, unexpressed intentions. 
D)  words and actions.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Anton tells Brooke, who has no knowledge of Shakespearean comedy, that he will tutor her in the subject for $50. As an offer, this is

Accepted Answer

A)  effective. 
B)  not effective because comedy is not a serious subject. 
C)  not effective because Anton's tutoring will be subjective. 
D)  not effective because Brooke has no knowledge of the subject. 
A)  effective. 
B)  not effective because comedy is not a serious subject. 
C)  not effective because Anton's tutoring will be subjective. 
D)  not effective because Brooke has no knowledge of the subject.

Question 19

Vin admires Will's collection of coins. Vin asks, "Will you sell it?" This statement is

Accepted Answer

A)  an offer. 
B)  an invitation to negotiate, not an offer. 
C)  an expression of intent, not an offer. 
D)  a request, not an offer. 
A)  an offer. 
B)  an invitation to negotiate, not an offer. 
C)  an expression of intent, not an offer. 
D)  a request, not an offer.

Question 20

The offeror can revoke the offer only be expressly repudiating it.

Accepted Answer

A) True 
 B)False

Exam 11: Agreement

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

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

The power of acceptance continues forever.

Owen decides to sell his ranch, Pine Ridge, in a live auction. When the auctioneer puts the property up for bids, it will be

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

An offer can be revoked by the performance of an act that is inconsistent with the existence of an offer and that is made known to the offeree.

Before the UETA applies, each party to a transaction must agree to conduct it by electronic means.

Charter Company offers to provide an air-conditioned bus to Denny's tour group for $1,500 plus the cost of the fuel. The mailbox rule applies if Denny accepts the offer by

Larry advertises a reward for the return of his lost dog. Miguel does not learn of the reward, but finds and returns the dog. With respect to Miguel, Larry's ad is not an offer because it lacks the element of

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

Acceptance of an offer by a method not authorized by the offeror renders the offer invalid.

The primary purpose of the Uniform Electronic Transactions Act is to create new rules for electronic contracts.

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

An agreement exists when one party offers a certain bargain to another party.

Fresh Agro Inc. offers to deliver produce to Growers' Market for a certain price. Fresh's intent to extend an offer is determined by reference to Fresh's

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

Anton tells Brooke, who has no knowledge of Shakespearean comedy, that he will tutor her in the subject for $50. As an offer, this is

Vin admires Will's collection of coins. Vin asks, "Will you sell it?" This statement is

The offeror can revoke the offer only be expressly repudiating it.

Law and Legal Reasoning

Constitutional Law

Ethics in Business

Courts and Alternative Dispute Resolution

Tort Law

Product Liability

Intellectual Property Rights

Internet Law, Social Media, and Privacy

Criminal Law and Cyber Crime

Nature and Classification

Consideration

Capacity and Legality

Voluntary Consent

The Statute of Fraudswriting Requirement

Performance and Discharge

Breach and Remedies

Third Party Rights

The Formation of Sales and Lease Contracts

Title and Risk of Loss

Performance and Breach of Sales and Lease Contracts

Negotiable Instruments

International and Space Law

Banking in the Digital Age

Security Interests and Creditors Rights

Bankruptcy

Agency Relationships in Business

Employment, Immigration, and Labor Law

Employment Discrimination

Sole Proprietorships and Franchises

All Forms of Partnership

Limited Liability Companies and Special Business Forms

Corporate Formation and Financing

Corporate Directors, Officers, and Shareholders

Corporate Mergers, Takeovers, and Termination

Investor Protection, Insider Trading, and Corporate Governance

Administrative Law

Antitrust Law and Promoting Competition

Consumer and Environmental Law

Liability of Accountants and Other Professionals

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, Wills, and Trusts

Filters