Question 1

How can courts prevent an offeror from revoking a unilateral contract once the offeree has started performance?

Accepted Answer

A) By providing additional terms according to the Code's gap-filling provisions 
B) By holding that the offeree's acceptance curtailed the power of revocation 
C) By holding that the offeree's performance made it a bilateral contract 
D) By making material changes in the terms of the original contract 
A) By providing additional terms according to the Code's gap-filling provisions 
B) By holding that the offeree's acceptance curtailed the power of revocation 
C) By holding that the offeree's performance made it a bilateral contract 
D) By making material changes in the terms of the original contract

Question 2

The only manner in which a request for prompt or current shipment of goods can be honored is by a prompt or current shipment of the goods to the buyer.

Accepted Answer

A) True 
 B)False

Question 3

Ian Sanders offered to sell his car to Beth Jones for $5,000.Subsequently,Beth demanded that he provide new seat covers for the car as she was paying a rather heavy price for the car.Beth's response represents a(n)________.

Accepted Answer

A) inquiry regarding terms 
B) rejection of the offer 
C) conditional acceptance of the offer 
D) additional term 
A) inquiry regarding terms 
B) rejection of the offer 
C) conditional acceptance of the offer 
D) additional term

Question 4

Which of the following describes the effect of the knock-out rule?

Accepted Answer

A) The contract will consist of those terms on which the parties' writings agree plus any different terms that are reasonable under the circumstances. 
B) The contract will include the different terms and any appropriate gap-filling presumptions in the Code. 
C) The contract will consist of those terms on which the parties' writings agree plus any appropriate gap-filling presumptions of the Code. 
D) No contract exists. 
A) The contract will consist of those terms on which the parties' writings agree plus any different terms that are reasonable under the circumstances. 
B) The contract will include the different terms and any appropriate gap-filling presumptions in the Code. 
C) The contract will consist of those terms on which the parties' writings agree plus any appropriate gap-filling presumptions of the Code. 
D) No contract exists.

Question 5

You wish to download free software from the Internet.The download procedure includes a page titled "download now" that asks you to "please review" the licensing agreement that is available to you on another webpage.The "download now" page has a button that initiates the download process.You click that button without going to the licensing agreement page.You later learn that the licensing agreement contains an arbitration provision.Are you bound by this provision?

Accepted Answer

A) Yes,because the "please review" statement in the "download now" page informed you of the licensing agreement. 
B) Yes,because when you clicked the button to initiate the download process you agreed to the provisions in the licensing agreement. 
C) No,because you did not perform an action that indicated your assent to the licensing agreement. 
D) No,because laws relating to Internet privacy consider silence to be an acceptance of the offer. 
A) Yes,because the "please review" statement in the "download now" page informed you of the licensing agreement. 
B) Yes,because when you clicked the button to initiate the download process you agreed to the provisions in the licensing agreement. 
C) No,because you did not perform an action that indicated your assent to the licensing agreement. 
D) No,because laws relating to Internet privacy consider silence to be an acceptance of the offer.

Question 6

Which of the following is true regarding silence as acceptance?

Accepted Answer

A) Contract law explicitly recognizes silence as constituting acceptance. 
B) An offeree's silence is considered acceptance when he/she indicates so. 
C) An offeror can impose on the offeree a duty to respond to the offer. 
D) The Code explicitly recognizes silence as constituting acceptance. 
A) Contract law explicitly recognizes silence as constituting acceptance. 
B) An offeree's silence is considered acceptance when he/she indicates so. 
C) An offeror can impose on the offeree a duty to respond to the offer. 
D) The Code explicitly recognizes silence as constituting acceptance.

Question 7

Which of the following statements about The United Nations Convention on Contracts for the International Sale of Goods (CISG)and acceptance is false?

Accepted Answer

A) The CISG adopted the Code's Battle of the Forms. 
B) Statements or other conduct by the offeree that shows assent is an acceptance. 
C) A contract is concluded when an acceptance of an offer becomes effective. 
D) Acceptances are effective when they are received. 
A) The CISG adopted the Code's Battle of the Forms. 
B) Statements or other conduct by the offeree that shows assent is an acceptance. 
C) A contract is concluded when an acceptance of an offer becomes effective. 
D) Acceptances are effective when they are received.

Question 8

Sue Sandon and Joe Rhine concluded their agreement in all substantial matters of their contract for goods,such as price,quantity,and mode of delivery.But the formal written agreement has not been signed yet.Is there a binding contract at present?

Accepted Answer

A) Yes,because an oral contract should suffice. 
B) Yes,because a contract is formed at the time the agreement is concluded. 
C) No,because the minor terms also need to be taken care of. 
D) No,because the agreement is not yet signed and thus,legally unenforceable. 
A) Yes,because an oral contract should suffice. 
B) Yes,because a contract is formed at the time the agreement is concluded. 
C) No,because the minor terms also need to be taken care of. 
D) No,because the agreement is not yet signed and thus,legally unenforceable.

Question 9

Debbie Jones and Bill Schneider exchanged standard order forms to formalize their contract for a batch of goods and realized that their standard forms do not agree on material terms.Under UCC section 2-207,when will there be a contract? Assume that Bill did not make his acceptance conditional on Debbie's assent to any additional or different terms.

Accepted Answer

A) Only when Debbie and Bill are merchants. 
B) When Bill's form is a definite and seasonable expression of acceptance. 
C) When the conduct of one party recognizes the existence of a contract. 
D) When the offer expressly limits acceptance to its own terms. 
A) Only when Debbie and Bill are merchants. 
B) When Bill's form is a definite and seasonable expression of acceptance. 
C) When the conduct of one party recognizes the existence of a contract. 
D) When the offer expressly limits acceptance to its own terms.

Question 10

Which source of law requires the acceptance to be a "mirror image" of the offer in order to form a contract?

Accepted Answer

A) Common Law 
B) Constitutional Law 
C) Natural Law 
D) Theocratic Law 
A) Common Law 
B) Constitutional Law 
C) Natural Law 
D) Theocratic Law

Exam 11: The Agreement: Acceptance

How can courts prevent an offeror from revoking a unilateral contract once the offeree has started performance?

The only manner in which a request for prompt or current shipment of goods can be honored is by a prompt or current shipment of the goods to the buyer.

Ian Sanders offered to sell his car to Beth Jones for $5,000.Subsequently,Beth demanded that he provide new seat covers for the car as she was paying a rather heavy price for the car.Beth's response represents a(n)________.

Which of the following describes the effect of the knock-out rule?

Which of the following is true regarding silence as acceptance?

Which of the following statements about The United Nations Convention on Contracts for the International Sale of Goods (CISG)and acceptance is false?

Sue Sandon and Joe Rhine concluded their agreement in all substantial matters of their contract for goods,such as price,quantity,and mode of delivery.But the formal written agreement has not been signed yet.Is there a binding contract at present?

Which source of law requires the acceptance to be a "mirror image" of the offer in order to form a contract?

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

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