Question 1

Jon says to Kris, "I would like to sell you my sports memorabilia collection." This is not an offer because it

Accepted Answer

A)  ​does not describe the subject matter sufficiently. 
B)  ​does not include a price term. 
C)  ​only expresses an opinion. 
D)  ​only invites Kris to negotiate. 
A)  ​does not describe the subject matter sufficiently. 
B)  ​does not include a price term. 
C)  ​only expresses an opinion. 
D)  ​only invites Kris to negotiate.

Question 2

Laredo advertises a reward for the return of his lost dog. Miguel, who does not know of the reward, finds and returns the dog, without asking for reward. Miguel cannot recover the reward, because he

Accepted Answer

A)  ​did not confer a benefit on Laredo by returning the dog. 
B)  ​did not know of the reward when he returned the dog. 
C)  ​did not ask for the reward when he returned the dog. 
D)  ​returned the dog. 
A)  ​did not confer a benefit on Laredo by returning the dog. 
B)  ​did not know of the reward when he returned the dog. 
C)  ​did not ask for the reward when he returned the dog. 
D)  ​returned the dog.

Question 3

In most cases, an offeror can revoke an offer as long as the revocation is communicated before the offeree accepts.

Accepted Answer

A) True 
 B)False

Question 4

Pastries, Inc., sends its catalogue to Rollo and includes a "personalized" letter inviting the purchase of any item at the advertised price. This is

Accepted Answer

A)  ​an offer because of the "personalized" letter. 
B)  ​an offer because there is no room for price negotiation. 
C)  ​an offer only if Rollo previously bought items from Pastries. 
D)  ​not an offer. 
A)  ​an offer because of the "personalized" letter. 
B)  ​an offer because there is no room for price negotiation. 
C)  ​an offer only if Rollo previously bought items from Pastries. 
D)  ​not an offer.

Question 5

Browse-wrap terms are often unenforceable.

Accepted Answer

A) True 
 B)False

Question 6

Archway Architects, Inc., makes travel arrangements online and stores the confirming documents and receipts on its servers. Under the UETA, "information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form" is

Accepted Answer

A)  ​an e-contract. 
B)  ​a shrink-wrap agreement. 
C)  ​a partnering agreement. 
D)  ​a record. 
A)  ​an e-contract. 
B)  ​a shrink-wrap agreement. 
C)  ​a partnering agreement. 
D)  ​a record.

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce. The UETA applies, if at all, only to those transactions in which the parties agree to use

Accepted Answer

A)  ​electronic means. 
B)  ​paper documents. 
C)  ​updates and cross-checks to orally verify any e-terms. 
D)  ​notarized documents. 
A)  ​electronic means. 
B)  ​paper documents. 
C)  ​updates and cross-checks to orally verify any e-terms. 
D)  ​notarized documents.

Question 9

Grain Farms and Hi-way Shipping Company make a deal for Hi-way's services, communicating entirely online. Under the UETA, an electronic record of their deal is considered sent when it

Accepted Answer

A)  ​reaches a midway point between the sender and recipient. 
B)  ​comes into the recipient's control. 
C)  ​is read by the recipient. 
D)  ​leaves the sender's control. 
A)  ​reaches a midway point between the sender and recipient. 
B)  ​comes into the recipient's control. 
C)  ​is read by the recipient. 
D)  ​leaves the sender's control.

Question 10

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 11

An e-contract must meet the same basic requirements as those required of a paper contract.

Accepted Answer

A) True 
 B)False

Question 12

Idina admires Jules's collection of guitars. July says, "I plan to sell the collection when I get tired of it." Jules's statement is

Accepted Answer

A)  ​an offer. 
B)  ​not an offer because it has not been communicated to Idina. 
C)  ​not an offer because July expressed only an intent to enter into a future contract. 
D)  ​an acceptance. 
A)  ​an offer. 
B)  ​not an offer because it has not been communicated to Idina. 
C)  ​not an offer because July expressed only an intent to enter into a future contract. 
D)  ​an acceptance.

Question 13

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

Accepted Answer

A)  ​a provision relating to the resolution of any dispute. 
B)  ​a detailed history of the music business. 
C)  ​positive reviews from users of the service. 
D)  ​an updated list of the music available through the service. 
A)  ​a provision relating to the resolution of any dispute. 
B)  ​a detailed history of the music business. 
C)  ​positive reviews from users of the service. 
D)  ​an updated list of the music available through the service.

Question 14

An offer made in obvious anger is an effective offer.

Accepted Answer

A) True 
 B)False

Question 15

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 16

A counteroffer is a rejection of the original offer and the simultaneous making of a new offer.

Accepted Answer

A) True 
 B)False

Question 17

An expression of opinion-"this is excellent"-is an offer.

Accepted Answer

A) True 
 B)False

Question 18

Terms in a shrink-wrap agreement have been enforced in the same way as the terms of other contracts.

Accepted Answer

A) True 
 B)False

Question 19

An acceptance can materially change or add to the terms of the original offer without rejecting it.

Accepted Answer

A) True 
 B)False

Question 20

Fix-It-Quik, Inc., offers Gina a job as a plumber. No time for acceptance is specified in the offer. The offer will terminate

Accepted Answer

A)  ​after a reasonable period. 
B)  ​after a work week (five business days). 
C)  ​after a month (thirty calendar days). 
D)  ​never. 
A)  ​after a reasonable period. 
B)  ​after a work week (five business days). 
C)  ​after a month (thirty calendar days). 
D)  ​never.

Exam 12: Agreement in Traditional and E-Contracts

Jon says to Kris, "I would like to sell you my sports memorabilia collection." This is not an offer because it

Laredo advertises a reward for the return of his lost dog. Miguel, who does not know of the reward, finds and returns the dog, without asking for reward. Miguel cannot recover the reward, because he

In most cases, an offeror can revoke an offer as long as the revocation is communicated before the offeree accepts.

Pastries, Inc., sends its catalogue to Rollo and includes a "personalized" letter inviting the purchase of any item at the advertised price. This is

Browse-wrap terms are often unenforceable.

Archway Architects, Inc., makes travel arrangements online and stores the confirming documents and receipts on its servers. Under the UETA, "information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form" is

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

Global Corporation enters into contracts with buyers in e-commerce and traditional commerce. The UETA applies, if at all, only to those transactions in which the parties agree to use

Grain Farms and Hi-way Shipping Company make a deal for Hi-way's services, communicating entirely online. Under the UETA, an electronic record of their deal is considered sent when it

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 e-contract must meet the same basic requirements as those required of a paper contract.

Idina admires Jules's collection of guitars. July says, "I plan to sell the collection when I get tired of it." Jules's statement is

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

An offer made in obvious anger is an effective offer.

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

A counteroffer is a rejection of the original offer and the simultaneous making of a new offer.

An expression of opinion-"this is excellent"-is an offer.

Terms in a shrink-wrap agreement have been enforced in the same way as the terms of other contracts.

An acceptance can materially change or add to the terms of the original offer without rejecting it.

Fix-It-Quik, Inc., offers Gina a job as a plumber. No time for acceptance is specified in the offer. The offer will terminate

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