Exam 11: Agreement in Traditional and E-Contracts

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Grant offers to sell his Honda Civic for $10,000 to Ivy. Referring to the prices for similar Hondas, Ivy says, "I'll pay no more than $5,000." Grant says, "Forget it." Grant's offer was terminated by

(Multiple Choice)

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Question 21

Elmo advertises a reward for the return of his lost dog. Floyd, who does not know of the reward, finds and returns the dog. Floyd cannot recover the reward because he

(Multiple Choice)

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Question 22

An agreement is evidenced by a single event: an offer.

(True/False)

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Question 23

Tomato Farms (TF) offers to sell Unified Grocers, Inc., a boxcar load of tomatoes. The offer is sent via overnight delivery because an acceptance is required urgently. It would be most reasonable for Unified to accept via

(Multiple Choice)

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Question 24

An acceptance subject to new conditions implicitly rejects the offer.

(True/False)

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Question 25

Yvon asks Zack, "Do you want to buy one of my fishing rods" This is

(Multiple Choice)

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Question 26

Howie enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), this contract can

(Multiple Choice)

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Question 27

Flem, a user of GameCenter.com's Web site, can download gaming software for free if he first clicks on "I accept" after viewing certain terms. This is

(Multiple Choice)

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Question 28

An offeror must have a serious intention to become bound by the offer.

(True/False)

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Question 29

State e-signature laws are uniform.

(True/False)

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Question 30

An invitation to negotiate-"can you afford this"-is an offer.

(True/False)

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Question 31

A counteroffer does not terminate but continues an offer.

(True/False)

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Question 32

Nate tells Opal, "I might sell the skis that I bought last fall since I haven't used them and the skiing season is almost over." This is

(Multiple Choice)

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Question 33

If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.

(True/False)

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Question 34

Omega, Inc., sells business application software-accounting and bookkeeping programs, blank business forms, inventory control functions, and so on-in different combinations, in different packages, at different prices. Each package includes a shrink-wrap agreement that limits warranties and remedies. Precision Engineering Associates (PEA) buys an Omega package and uses the product. Later, PEA files a suit against Omega, claiming that the software is flawed and that the flaws caused PEA to suffer business losses. PEA asks for relief that exceeds the limits in the shrink-wrap agreement. What are shrink-wrap agreements Are these agreements always enforced Under what circumstances is a court likely to enforce this agreement

(Essay)

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Question 35

Bill offers to sell his Consumer Service Center business to Dina for $100,000. Dina replies, "The price is too high. I will buy it for $90,000." Dina has

(Multiple Choice)

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Question 36

A "sale" of software generally involves only a right to use the software.

(True/False)

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Question 37

Parties cannot opt out of the UETA.

(True/False)

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(77)

Question 38

The UETA does not apply to a transaction unless the parties agreed to conduct the transaction electronically.

(True/False)

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(74)

Question 39

Lightspeed Corporation makes computers, each of which is packaged with a shrink-wrap agreement. Milo buys a Lightspeed desktop. The terms of the shrink-wrap agreement are most likely enforceable if

(Multiple Choice)

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Question 40

Showing 21 - 40 of 42

Exam 11: Agreement in Traditional and E-Contracts

Grant offers to sell his Honda Civic for $10,000 to Ivy. Referring to the prices for similar Hondas, Ivy says, "I'll pay no more than $5,000." Grant says, "Forget it." Grant's offer was terminated by

Elmo advertises a reward for the return of his lost dog. Floyd, who does not know of the reward, finds and returns the dog. Floyd cannot recover the reward because he

An agreement is evidenced by a single event: an offer.

Tomato Farms (TF) offers to sell Unified Grocers, Inc., a boxcar load of tomatoes. The offer is sent via overnight delivery because an acceptance is required urgently. It would be most reasonable for Unified to accept via

An acceptance subject to new conditions implicitly rejects the offer.

Yvon asks Zack, "Do you want to buy one of my fishing rods" This is

Howie enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), this contract can

Flem, a user of GameCenter.com's Web site, can download gaming software for free if he first clicks on "I accept" after viewing certain terms. This is

An offeror must have a serious intention to become bound by the offer.

State e-signature laws are uniform.

An invitation to negotiate-"can you afford this"-is an offer.

A counteroffer does not terminate but continues an offer.

Nate tells Opal, "I might sell the skis that I bought last fall since I haven't used them and the skiing season is almost over." This is

If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.

Bill offers to sell his Consumer Service Center business to Dina for $100,000. Dina replies, "The price is too high. I will buy it for $90,000." Dina has

A "sale" of software generally involves only a right to use the software.

Parties cannot opt out of the UETA.

The UETA does not apply to a transaction unless the parties agreed to conduct the transaction electronically.

Lightspeed Corporation makes computers, each of which is packaged with a shrink-wrap agreement. Milo buys a Lightspeed desktop. The terms of the shrink-wrap agreement are most likely enforceable if

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