Question 1

An offer made in obvious anger is still an effective offer.

Accepted Answer

A) True 
 B)False  False

Question 2

The mailbox rule applies to communication by phone as well as by mail.

Accepted Answer

A) True 
 B)False  False

Question 3

Play-It-Loud,LLC,provides music-streaming services online subject to complex pricing schedules. To control specific offers for the services and thus the resulting contracts,important terms to provide online include

Accepted Answer

A)  a provision relating to the resolution of any dispute.
B)  a detailed history of the music business.
C)  positive reviews from users of the service.
D)  an updated list of the music available through the service. A

Question 4

World Shipping Corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce. The UETA applies,if at all,only to those transactions in which the parties agree to use

Accepted Answer

A)  electronic means.
B)  paper documents.
C)  updates and cross-checks to orally verify any e-terms.
D)  notarized documents.

Question 5

An offer must be practical to be effective.

Accepted Answer

A) True 
 B)False

Question 6

Interstate Coffee Brokers,Inc.,offers to buy Java Roasters Company coffee-roasting services for a certain price. Java responds that the price is too low and thereby rejects the offer. The offer is

Accepted Answer

A)  terminated.
B)  valid for a reasonable time to give Interstate a "second chance."
C)  valid for the period of time prescribed by a state statute.
D)  valid until Interstate revokes the offer.

Question 7

An acceptance must be unequivocal.

Accepted Answer

A) True 
 B)False

Question 8

The UETA applies only to electronic records and electronic signatures relating to a transaction.

Accepted Answer

A) True 
 B)False

Question 9

An agreement is evidenced by one event: an offer.

Accepted Answer

A) True 
 B)False

Question 10

Most advertisements-"this property for sale"-are offers.

Accepted Answer

A) True 
 B)False

Question 11

A counteroffer is a rejection of the original offer and the simultaneous making of a new offer.

Accepted Answer

A) True 
 B)False

Question 12

An offeree's power of acceptance is terminated when the offeror dies unless the offer is irrevocable.

Accepted Answer

A) True 
 B)False

Question 13

Barrett files a suit against City Moving Service for breach of contract,based on what Barrett claims was City Moving's offer. For a court to de-termine if a contract has been breached,under the common law,the offer must include terms that are

Accepted Answer

A)  exactly precise.
B)  reasonably definite.
C)  unequivocally approximate.
D)  vague or uncertain.

Question 14

Business Properties,Inc. (BPI),offers to sell a warehouse to Corporate Investments. Corporate says that it will pay BPI $100 to hold the offer open for three business days. This

Accepted Answer

A)  creates an illegal contract by adding a clause to BPI's offer.
B)  makes the offer irrevocable for three days if BPI accepts.
C)  negates BPI's offer by changing the price term.
D)  voidsBPI's offer by extending the time term.

Question 15

An acceptance sent by means not expressly or impliedly authorized is not effective until it is received.

Accepted Answer

A) True 
 B)False

Question 16

An ad on the NewsNow Web site asks viewers to "send us your story and we might share it with the world." Onyx submits a manuscript,adding,"I accept your offer." Between NewsNow and Onyx,there is

Accepted Answer

A)  a contract for the publication of Onyx's story.
B)  a contract to consider Onyx's story before any others.
C)  a contract to negotiate for the publication of Onyx's story.
D)  no contract.

Question 17

A preliminary agreement cannot constitute a binding contract.

Accepted Answer

A) True 
 B)False

Question 18

Idina admires July's collection of guitars. July says,"I plan to sell the collection when I get tired of it." July's statement is

Accepted Answer

A)  an offer.
B)  not an offer because it has not been communicated to Idina.
C)  not an offer because Julyexpressed only an intent to enter into a future contract.
D)  an acceptance.

Question 19

Revocation is effective on dispatch.

Accepted Answer

A) True 
 B)False

Question 20

An offer may invite an acceptance to be worded in specific terms but that cannot make the contract definite.

Accepted Answer

A) True 
 B)False

Exam 11: Agreement

An offer made in obvious anger is still an effective offer.

The mailbox rule applies to communication by phone as well as by mail.

Play-It-Loud,LLC,provides music-streaming services online subject to complex pricing schedules. To control specific offers for the services and thus the resulting contracts,important terms to provide online include

World Shipping Corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce. The UETA applies,if at all,only to those transactions in which the parties agree to use

An offer must be practical to be effective.

Interstate Coffee Brokers,Inc.,offers to buy Java Roasters Company coffee-roasting services for a certain price. Java responds that the price is too low and thereby rejects the offer. The offer is

An acceptance must be unequivocal.

The UETA applies only to electronic records and electronic signatures relating to a transaction.

An agreement is evidenced by one event: an offer.

Most advertisements-"this property for sale"-are offers.

A counteroffer is a rejection of the original offer and the simultaneous making of a new offer.

An offeree's power of acceptance is terminated when the offeror dies unless the offer is irrevocable.

Barrett files a suit against City Moving Service for breach of contract,based on what Barrett claims was City Moving's offer. For a court to de-termine if a contract has been breached,under the common law,the offer must include terms that are

Business Properties,Inc. (BPI) ,offers to sell a warehouse to Corporate Investments. Corporate says that it will pay BPI $100 to hold the offer open for three business days. This

An acceptance sent by means not expressly or impliedly authorized is not effective until it is received.

An ad on the NewsNow Web site asks viewers to "send us your story and we might share it with the world." Onyx submits a manuscript,adding,"I accept your offer." Between NewsNow and Onyx,there is

A preliminary agreement cannot constitute a binding contract.

Idina admires July's collection of guitars. July says,"I plan to sell the collection when I get tired of it." July's statement is

Revocation is effective on dispatch.

An offer may invite an acceptance to be worded in specific terms but that cannot make the contract definite.