Question 1

An acceptance must be unequivocal.​

Accepted Answer

A) True 
 B)False

Question 2

The first requirement for an offer is that it must be practical.

Accepted Answer

A) True 
 B)False

Question 3

Lauren files a suit against Moving Service for breach of contract, based on what Lauren claims was Moving's offer. For a court to determine if a contract has been breached, under the common law, the offer must include terms that are

Accepted Answer

A)  ​exactly precise. 
B)  ​reasonably definite. 
C)  ​unequivocally approximate. 
D)  ​vague or uncertain. 
A)  ​exactly precise. 
B)  ​reasonably definite. 
C)  ​unequivocally approximate. 
D)  ​vague or uncertain.

Question 4

One necessary element for an effective offer is a reasonable price related to market value.

Accepted Answer

A) True 
 B)False

Question 5

Rhonda asks Steve, "Do you want to buy me to repair your fishing net?" This is

Accepted Answer

A)  ​a valid offer. 
B)  ​not a valid offer because the terms are not definite. 
C)  ​not a valid offer because Rhonda did not express an intent. 
D)  ​not a valid offer because Steve did not respond. 
A)  ​a valid offer. 
B)  ​not a valid offer because the terms are not definite. 
C)  ​not a valid offer because Rhonda did not express an intent. 
D)  ​not a valid offer because Steve did not respond.

Question 6

An offer does not need to be communicated to the offeree to become effective.

Accepted Answer

A) True 
 B)False

Question 7

Fresh Service, Inc., offers to deliver produce to Growers' Market's customers for a certain price. Fresh's intent to extend a serious offer to Growers' Market is determined by reference to Fresh's

Accepted Answer

A)  ​assumptions. 
B)  ​beliefs. 
C)  ​intentions. 
D)  ​words and conduct. 
A)  ​assumptions. 
B)  ​beliefs. 
C)  ​intentions. 
D)  ​words and conduct.

Question 8

Fabien offers to sell his Graphic Signs, LLC, business to Hanna for $100,000. Hanna replies, "The price is too high. I will buy it for $75,000." Hanna has

Accepted Answer

A)  ​accepted the offer. 
B)  ​made a counteroffer without rejecting the offer. 
C)  ​rejected the offer and made a counteroffer. 
D)  ​rejected the offer without making a counteroffer. 
A)  ​accepted the offer. 
B)  ​made a counteroffer without rejecting the offer. 
C)  ​rejected the offer and made a counteroffer. 
D)  ​rejected the offer without making a counteroffer.

Question 9

An offer made in obvious anger is an effective offer.

Accepted Answer

A) True 
 B)False

Question 10

Under federal law, an e-document is not as enforceable as a paper one.

Accepted Answer

A) True 
 B)False

Question 11

On May 1 Ralph offers to cure and smoke Sam's pork. On May 3 Ralph mails Sam a letter revoking the offer. Sam receives the letter on May 5 and responds on May 6. Ralph's revocation of the offer

Accepted Answer

A)  ​became effective on May 1. 
B)  ​became effective on May 3. 
C)  ​became effective on May 5. 
D)  ​did not become effective because Sam responded to the offer. 
A)  ​became effective on May 1. 
B)  ​became effective on May 3. 
C)  ​became effective on May 5. 
D)  ​did not become effective because Sam responded to the offer.

Question 12

An effective offer requires reasonably definite terms.

Accepted Answer

A) True 
 B)False

An acceptance must be unequivocal.

The first requirement for an offer is that it must be practical.

Lauren files a suit against Moving Service for breach of contract, based on what Lauren claims was Moving's offer. For a court to determine if a contract has been breached, under the common law, the offer must include terms that are

One necessary element for an effective offer is a reasonable price related to market value.

Rhonda asks Steve, "Do you want to buy me to repair your fishing net?" This is

An offer does not need to be communicated to the offeree to become effective.

Fresh Service, Inc., offers to deliver produce to Growers' Market's customers for a certain price. Fresh's intent to extend a serious offer to Growers' Market is determined by reference to Fresh's

Fabien offers to sell his Graphic Signs, LLC, business to Hanna for $100,000. Hanna replies, "The price is too high. I will buy it for $75,000." Hanna has

An offer made in obvious anger is an effective offer.

Under federal law, an e-document is not as enforceable as a paper one.

On May 1 Ralph offers to cure and smoke Sam's pork. On May 3 Ralph mails Sam a letter revoking the offer. Sam receives the letter on May 5 and responds on May 6. Ralph's revocation of the offer

An effective offer requires reasonably definite terms.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Exam 8: Agreement in Traditional and E-Contracts

An acceptance must be unequivocal.​

The first requirement for an offer is that it must be practical.

Lauren files a suit against Moving Service for breach of contract, based on what Lauren claims was Moving's offer. For a court to determine if a contract has been breached, under the common law, the offer must include terms that are

One necessary element for an effective offer is a reasonable price related to market value.

Rhonda asks Steve, "Do you want to buy me to repair your fishing net?" This is

An offer does not need to be communicated to the offeree to become effective.

Fresh Service, Inc., offers to deliver produce to Growers' Market's customers for a certain price. Fresh's intent to extend a serious offer to Growers' Market is determined by reference to Fresh's

Fabien offers to sell his Graphic Signs, LLC, business to Hanna for $100,000. Hanna replies, "The price is too high. I will buy it for $75,000." Hanna has

An offer made in obvious anger is an effective offer.

Under federal law, an e-document is not as enforceable as a paper one.

On May 1 Ralph offers to cure and smoke Sam's pork. On May 3 Ralph mails Sam a letter revoking the offer. Sam receives the letter on May 5 and responds on May 6. Ralph's revocation of the offer

An effective offer requires reasonably definite terms.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

An acceptance must be unequivocal.