Question 1

Global Dispatch Corporation and Heavy Hauling,Inc.,agree in advance to terms that apply to their future e-transactions. This is

Accepted Answer

A) a partnering agreement. 
B) a click-on agreement. 
C) a shrink-wrap agreement. 
D) a choice-of-law clause. 
A) a partnering agreement. 
B) a click-on agreement. 
C) a shrink-wrap agreement. 
D) a choice-of-law clause.

Question 2

A statute or court decision that makes an offer illegal automatically terminates the offer.

Accepted Answer

A) True 
 B)False

Question 3

Under the mailbox rule,an acceptance becomes valid when it is dispatched.

Accepted Answer

A) True 
 B)False

Question 4

If no time for acceptance is specified in an offer,the offer terminates after a reasonable length of time.

Accepted Answer

A) True 
 B)False

Question 5

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 6

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

Accepted Answer

A) True 
 B)False

Question 7

On December 1,Petroleum,Inc.,sent Rachel & Rico (R&R)a letter,via overnight delivery,offering to employ R&R to review Petroleum's tax situation for the current year for $10,000. In the letter,the company stated that R&R had ten days to accept. On December 5,R&R sent an e-mail message that stated,"The price for the tax analysis seems too low. Would you consider paying $15,000?" Petroleum received the message without responding immediately. The next day,Smith & Taylor,an R&R competitor,offered to conduct the appraisal for $8,000. On learning of this offer,R&R immediately e-mailed Petroleum,agreeing to do the work for $10,000. Petroleum received this message on December 7. Explain why R&R and Petroleum do,or do not,have a contract.

Accepted Answer

R&R and Petroleum have a contract. R&R e

Question 8

May tries to start her new car with no success. She yells that she will sell the car to anyone for $10. Nick,a passerby who owns Nick's Pre-owned Autos,hands May $10. This is

Accepted Answer

A) a valid acceptance because May is seriously frustrated. 
B) a valid acceptance because Nick is a car dealer. 
C) not a valid acceptance because May does not seriously intend to sell. 
D) not a valid acceptance because Nick is a car dealer. 
A) a valid acceptance because May is seriously frustrated. 
B) a valid acceptance because Nick is a car dealer. 
C) not a valid acceptance because May does not seriously intend to sell. 
D) not a valid acceptance because Nick is a car dealer.

Question 9

The first requirement for an effective offer is a serious intent on the part of the offeror.

Accepted Answer

A) True 
 B)False

Question 10

Wally offers to sell a certain used forklift to Valu Lumber Outlet,but Wally dies before Valu ac-cepts. Most likely,Wally's death

Accepted Answer

A) did not affect the offer. 
B) shortened the time of the offer but did not terminate it. 
C) extended the time of the offer. 
D) terminated the offer. 
A) did not affect the offer. 
B) shortened the time of the offer but did not terminate it. 
C) extended the time of the offer. 
D) terminated the offer.

Question 11

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 12

Laredo advertises a reward for the return of his lost dog. Mikayla,who does not know of the reward,finds and returns the dog. Mikayla cannot recover the re-ward,because she

Accepted Answer

A) did not confer a benefit on Laredo by returning the dog. 
B) did not know of the reward when she found and returned the dog. 
C) does not need the money. 
D) returned the dog. 
A) did not confer a benefit on Laredo by returning the dog. 
B) did not know of the reward when she found and returned the dog. 
C) does not need the money. 
D) returned the dog.

Exam 11: Agreement

Global Dispatch Corporation and Heavy Hauling,Inc.,agree in advance to terms that apply to their future e-transactions. This is

A statute or court decision that makes an offer illegal automatically terminates the offer.

Under the mailbox rule,an acceptance becomes valid when it is dispatched.

If no time for acceptance is specified in an offer,the offer terminates after a reasonable length of time.

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

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

May tries to start her new car with no success. She yells that she will sell the car to anyone for $10. Nick,a passerby who owns Nick's Pre-owned Autos,hands May $10. This is

The first requirement for an effective offer is a serious intent on the part of the offeror.

Wally offers to sell a certain used forklift to Valu Lumber Outlet,but Wally dies before Valu ac-cepts. Most likely,Wally's death

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

Laredo advertises a reward for the return of his lost dog. Mikayla,who does not know of the reward,finds and returns the dog. Mikayla cannot recover the re-ward,because she

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