Exam 10: Agreement

An offer that is made to two or more persons jointly must be accepted jointly.

In which of the following types of offers does the seller offer the goods for sale?

In an auction with reserve, the seller retains the right to refuse the highest bidder.

A response by an offeree that contains terms and conditions different from or in addition to those of the offer is called a(n) ________.

Advertisements are considered to be invitations to make an offer.

An agreement is created when the offeree receives the offer.

An offer cannot stipulate that acceptance must be by a specified means of communication.

The legal power to accept an offer belongs to the ________.

An offeror can revoke his or her offer even after an agreement or acceptance has been reached.

A counteroffer is a rejection of the original offer.

A contract is created upon an equivocal response to an offer from the offeree.

Which of the following statements is true of an offer that was not communicated?

Which of the following contradicts the mirror image rule?

Under the mailbox rule, an acceptance is only effective when it is received.

Without mutual assent, there is no contract.

Section 24 of the Restatement (Second) of Contracts defines a(n) ________ as the manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent to that bargain is invited and will conclude it.

During a counteroffer, the previous offeror remains the offeror.

Which one of the following would constitute a reward?

Which of the following statements is true of a counteroffer?

The Restatement (Second) of Contracts states that the terms of the offer should be "reasonably certain." Accordingly, courts can supply some missing terms. What terms might be supplied? What terms cannot usually be implied?