Question 1

Which of the following actions constitutes acceptance of an offer?

Accepted Answer

A) Offeree made material alterations to the terms of the offer 
B) Offeree intended to enter the contract only if requisite changes were made 
C) Offeree reflected assent to the terms of the offer in the requisite manner 
D) Offeree suggested addition of new terms that were earlier not addressed in the offer 
A) Offeree made material alterations to the terms of the offer 
B) Offeree intended to enter the contract only if requisite changes were made 
C) Offeree reflected assent to the terms of the offer in the requisite manner 
D) Offeree suggested addition of new terms that were earlier not addressed in the offer

Question 2

The only person with the legal power to accept an offer and create a contract is the original offeree.

Accepted Answer

A) True 
 B)False

Question 3

To accept an offer for a unilateral contract,the offeree must make the promise requested by the offer.

Accepted Answer

A) True 
 B)False

Question 4

The United Nations Convention on Contracts for the International Sale of Goods (CISG)generally holds acceptances to be effective when:

Accepted Answer

A) they are received. 
B) they are dispatched. 
C) the offeror reasonably learns of the acceptance. 
D) the offeree subjectively decides to accept the offer. 
A) they are received. 
B) they are dispatched. 
C) the offeror reasonably learns of the acceptance. 
D) the offeree subjectively decides to accept the offer.

Question 5

UCC section 2-207 allows a contract to be formed even though the terms of the offer and the terms of the acceptance differ.

Accepted Answer

A) True 
 B)False

Question 6

Arthur offered to sell his house to Mike for $50,000.Even before Mike responded to the offer,Jack learned of the offer and called Arthur to accept the offer.Jack's action represents a(n)________.

Accepted Answer

A) offer 
B) promise 
C) notification 
D) acceptance 
A) offer 
B) promise 
C) notification 
D) acceptance

Question 7

In general,the mailbox rule is beneficial to:

Accepted Answer

A) the offeror. 
B) the offeree. 
C) the courts. 
D) third-party beneficiaries. 
A) the offeror. 
B) the offeree. 
C) the courts. 
D) third-party beneficiaries.

Question 8

April Roberts ordered one hundred 19-inch color television sets from Carl Soans and requested prompt shipment of the goods.Carl promptly shipped fifty 21-inch color television sets and fifty 19-inch color television sets without informing April that the shipment of nonconforming television sets was an accommodation.Which of the following is true?

Accepted Answer

A) There is no acceptance because Carl's shipment materially differed from the terms of the offer. 
B) There is an acceptance and April is bound to pay the reasonable value of the fifty 21-inch television sets she did not ask for. 
C) There is an acceptance but Carl has breached the contract by shipping nonconforming television sets. 
D) There is a new offer that Carl has made by sending the nonconforming goods which April can accept or reject. 
A) There is no acceptance because Carl's shipment materially differed from the terms of the offer. 
B) There is an acceptance and April is bound to pay the reasonable value of the fifty 21-inch television sets she did not ask for. 
C) There is an acceptance but Carl has breached the contract by shipping nonconforming television sets. 
D) There is a new offer that Carl has made by sending the nonconforming goods which April can accept or reject.

Question 9

Judith George makes an offer to sell a plot of land using a normal letter and states no authorized means by which the offeree,Helga Holmes,must respond if she accepts.If Helga accepts the offer using a normal letter,which of the following is true?

Accepted Answer

A) The acceptance is effective upon dispatch. 
B) The acceptance is effective when it is received. 
C) The offer is invalid because it fails to stipulate the means of acceptance. 
D) The acceptance would be effective upon dispatch even if the means of acceptance is unreasonable. 
A) The acceptance is effective upon dispatch. 
B) The acceptance is effective when it is received. 
C) The offer is invalid because it fails to stipulate the means of acceptance. 
D) The acceptance would be effective upon dispatch even if the means of acceptance is unreasonable.

Question 10

In The United States Life Insurance Company in the City of New York v.Wilson,the case in the text,the court held that the check was dispatched within the meaning of the mailbox rule when:

Accepted Answer

A) the bank sent the insurance company a letter indicating its intention to send a check. 
B) the bank sent the insurance company the check. 
C) Griffith directed the bank to send the insurance company a check. 
D) the insurance company received the check. 
A) the bank sent the insurance company a letter indicating its intention to send a check. 
B) the bank sent the insurance company the check. 
C) Griffith directed the bank to send the insurance company a check. 
D) the insurance company received the check.

Question 11

When Carol Whittaker makes an offer to a contractor,Jacob Phelps,directing him to inform her of his acceptance through registered letter mail,she is making an ambiguous offer.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following conditions can prevent additional terms from becoming a part of a contract formed between parties who are merchants?

Accepted Answer

A) There is a grumbling acceptance by both parties. 
B) The contract is regarding the sale of goods. 
C) The offer expressly limits acceptance to its own terms. 
D) The additional terms would not materially alter the contract. 
A) There is a grumbling acceptance by both parties. 
B) The contract is regarding the sale of goods. 
C) The offer expressly limits acceptance to its own terms. 
D) The additional terms would not materially alter the contract.

Question 13

An ambiguous offer may be accepted in any manner that is ________ in light of the circumstances.

Accepted Answer

A) stipulated 
B) authorized 
C) recognizable 
D) reasonable 
A) stipulated 
B) authorized 
C) recognizable 
D) reasonable

Question 14

Which section of the UCC states that an order to a manufacturer requesting shipment of goods may be accepted by a prompt shipment of the goods?

Accepted Answer

A) 2-206 
B) 9-301 
C) 1-105 
D) 2-345 
A) 2-206 
B) 9-301 
C) 1-105 
D) 2-345

Question 15

Which of the following stands for the notion that a properly addressed and dispatched acceptance can become effective when it is dispatched,even if it is lost and never received by the offeror?

Accepted Answer

A) Battle of the Forms 
B) Knock-Out Rule 
C) Last Shot Rule 
D) Mailbox Rule 
A) Battle of the Forms 
B) Knock-Out Rule 
C) Last Shot Rule 
D) Mailbox Rule

Question 16

Why does the Code provide for "accommodation" in cases of acceptance by shipment of nonconforming goods?

Accepted Answer

Sometimes a party may send nonconforming

Question 17

A bilateral contract is accepted when the offeree:

Accepted Answer

A) performs the requested act. 
B) makes the promise requested by the offer. 
C) accepts the offer in silence without prior indication. 
D) makes additional inquiries regarding the terms. 
A) performs the requested act. 
B) makes the promise requested by the offer. 
C) accepts the offer in silence without prior indication. 
D) makes additional inquiries regarding the terms.

Question 18

Which of the following actions is considered to reflect a counteroffer?

Accepted Answer

A) A grumbling acceptance 
B) An inquiry regarding terms 
C) A demand for additional terms 
D) A silent acceptance 
A) A grumbling acceptance 
B) An inquiry regarding terms 
C) A demand for additional terms 
D) A silent acceptance

Question 19

What is the term for "a manifestation of assent to the terms made by the offeree"?

Accepted Answer

A) Offer 
B) Acceptance 
C) Consideration 
D) Revocation 
A) Offer 
B) Acceptance 
C) Consideration 
D) Revocation

Question 20

Which of the following statements about the mirror image rule is false?

Accepted Answer

A) No rejection is implied if an offeree merely asks about the terms of the offer without indicating its rejection. 
B) In recent years,the courts tend to apply the mirror image rule in a more liberal fashion. 
C) The common law rule requires that acceptance be the mirror image of the offer. 
D) No rejection is implied if an offeree accepts the offer's terms while complaining about them. 
A) No rejection is implied if an offeree merely asks about the terms of the offer without indicating its rejection. 
B) In recent years,the courts tend to apply the mirror image rule in a more liberal fashion. 
C) The common law rule requires that acceptance be the mirror image of the offer. 
D) No rejection is implied if an offeree accepts the offer's terms while complaining about them.

Exam 11: The Agreement: Acceptance

Which of the following actions constitutes acceptance of an offer?

The only person with the legal power to accept an offer and create a contract is the original offeree.

To accept an offer for a unilateral contract,the offeree must make the promise requested by the offer.

The United Nations Convention on Contracts for the International Sale of Goods (CISG)generally holds acceptances to be effective when:

UCC section 2-207 allows a contract to be formed even though the terms of the offer and the terms of the acceptance differ.

Arthur offered to sell his house to Mike for $50,000.Even before Mike responded to the offer,Jack learned of the offer and called Arthur to accept the offer.Jack's action represents a(n)________.

In general,the mailbox rule is beneficial to:

Judith George makes an offer to sell a plot of land using a normal letter and states no authorized means by which the offeree,Helga Holmes,must respond if she accepts.If Helga accepts the offer using a normal letter,which of the following is true?

In The United States Life Insurance Company in the City of New York v.Wilson,the case in the text,the court held that the check was dispatched within the meaning of the mailbox rule when:

When Carol Whittaker makes an offer to a contractor,Jacob Phelps,directing him to inform her of his acceptance through registered letter mail,she is making an ambiguous offer.

Which of the following conditions can prevent additional terms from becoming a part of a contract formed between parties who are merchants?

An ambiguous offer may be accepted in any manner that is ________ in light of the circumstances.

Which section of the UCC states that an order to a manufacturer requesting shipment of goods may be accepted by a prompt shipment of the goods?

Which of the following stands for the notion that a properly addressed and dispatched acceptance can become effective when it is dispatched,even if it is lost and never received by the offeror?

Why does the Code provide for "accommodation" in cases of acceptance by shipment of nonconforming goods?

A bilateral contract is accepted when the offeree:

Which of the following actions is considered to reflect a counteroffer?

What is the term for "a manifestation of assent to the terms made by the offeree"?

Which of the following statements about the mirror image rule is false?

The Nature of Law

The Resolution of Private Disputes

Business and the Constitution

Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking

Criminal Law and Procedure

Intentional Torts

Negligence and Strict Liability

Intellectual Property and Unfair Competition

Introduction to Contracts

The Agreement: Offer

Consideration

Reality of Consent

Capacity to Contract

Illegality

Writing

Rights of Third Parties

Performance and Remedies

Formation and Terms of Sales Contracts

Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contracts

Personal Property and Bailments

Real Property

Landlord and Tenant

Estates and Trusts

Insurance Law

Introduction to Credit and Secured Transactions

Security Interests in Personal Property

Bankruptcy

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Transfers

The Agency Relationship

Third-Party Relations of the Principal and the Agent

Introduction to Forms of Business and Formation of Partnerships

Operation of Partnerships and Related Forms

Partners Dissociation and Partnerships Dissolution and Winding up

Limited Liability Companies, limited Partnerships, and Limited Liability Limited Partnerships

History and Nature of Corporations

Organization and Financial Structure of Corporations

Management of Corporations

Shareholders Rights and Liabilities

Securities Regulation

Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals

Administrative Law

The Federal Trade Commission Act and Consumer Protection Laws

Antitrust: the Sherman Act

The Clayton Act, the Robinsonpatman Act, and Antitrust Exemptions and Immunities

Employment Law

Environmental Regulation

Filters