Exam 10: Mutual Assent

The UCC provides missing contract terms in which of the following instances?

Jack has been in the business of selling carpeting for 20 years.He calls Bob,who is opening another branch of his furniture stores,and offers to sell him 100 square yards of carpet at $20 per square yard.Bob agrees and sends back the following letter confirming the deal: Dear Jack: As we discussed on the phone January 3,we accept your offer of 100 square yards of Saxony "heather blue" carpeting at the rate of $20 per square yard.We also reserve the right to purchase any additional yardage we need to carpet our other showroom facilities at the same rate for one year from that date. Very truly yours, Bob Which of the following is true?

What are the ways in which an offer may be terminated?

Contract law generally places more importance on the intent of the parties to form a contract than on the inclusion of certain terms in the contract.

Bart sends Carla an offer by express mail.Carla receives it at 10 a.m.on Tuesday.At 11 a.m.on Tuesday,Carla delivers an acceptance to Speedy Mail-to-You Express,Inc.,but due to their error,the letter is not sent out by the company until Wednesday at 8 a.m.At what time does the law consider the acceptance to be effective?

The common law "mirror image" rule applies to an offer and the acceptance of that offer in a contract for the sale of goods.

The UCC and the Restatement make no provision for supplying terms omitted by the parties' contract.

An offer can only be communicated by words; conduct cannot constitute an offer.

In order to form a contract,the parties must:

Elvis makes an offer to Fred,but before Fred can accept,the state supreme court decides a case that makes Elvis's offer illegal.The court's decision:

An offer may be made to the general public.

On June 1,Edward visited a bicycle sales and service center.Edward spotted a used bike he liked and was told by the dealer that he could have the bike for $100 cash.Since Edward needed a few days to get the money,Edward got a signed,written statement by the dealer that Edward could buy the bike for $100 at anytime on or before June 15.On June 10 Edward came to the dealer with the money,but the bike had been sold to another customer.Was the dealer under any obligation to Edward to keep this offer open until June 15? Give legal reasoning for your answer.

To be effective,an offer must:

The Rogers family has always wanted to buy the beautiful house at the top of the hill.The owners of the house,the Thompsons,decided to sell and called Mr.Rogers.Before he could get back in touch with Mr.Thompson,Mr.Rogers suffered a heart attack and died.Mr.Rogers' adult daughter,to whom the Thompsons had not spoken,still wants the house.She may:

If Anna Laura,in return for the payment of $200 to her by Catherine,gives Catherine an option to buy Jesse,a prime Arabian mare,at any time within the next 14 days at a price of $50,000,Anna Laura's offer to Catherine is:

The way parties usually show mutual assent is by:

The case in which the court held that a newspaper advertisement was an offer because it contained a promise of performance in definite terms in return for a requested act was:

Under the common law,the __________ must be the mirror image of the __________.

A counteroffer operates as a rejection of the original offer.

Unless an auction is advertised or announced to be without reserve,when a bid is made at an auction,it can be withdrawn if the auctioneer has not yet accepted the bid,because the auctioneer has the power of acceptance.