Question 1

On May 1,Ida makes a written offer to Miranda for the sale of Ida's car.On May 2,Ida mails Miranda a letter revoking the offer.On May 3,Ida telephones Miranda to tell him that he is revoking the offer.On May 4,Miranda learns that Ida sold the car to Chris.On May 5,Ida's letter finally gets to Miranda.Ida's offer terminated on:

Accepted Answer

A)  May 2.
B)  May 3.
C)  May 4.
D)  May 5.

Question 2

When negotiations occur through the mail,there is usually a limit put on the time:

Accepted Answer

A)  the offeree has to accept the offer.
B)  the offeror has to register the contract with the state.
C)  the offeror has to register the contract with the federal government.
D)  to have a judge approve the contract.

Question 3

The offeror is said to be "the master of the offer." This means that offerors have the power to determine the terms and conditions under which they are bound to a contract.

Accepted Answer

A) True 
 B)False

Question 4

When an auction is advertised as being ________,the seller is treated as having made an offer to sell the goods to the highest bidder.

Accepted Answer

A)  without intent
B)  without reserve
C)  without price
D)  without offer

Question 5

A computer manufacturer offered to sell sophisticated computer equipment to another country.Two days later,before the offer was accepted,Congress placed an embargo on all sales to this country;and therefore,the offer was terminated by the embargo.This is an example of:

Accepted Answer

A)  promissory estoppel.
B)  destruction of subject matter.
C)  intervening illegality.
D)  revocation.

Question 6

When can the offeror effectively revoke his/her offer?

Accepted Answer

A)  Only after an effective acceptance.
B)  Only before an effective acceptance.
C)  Only before payment for goods or services has been made.
D)  Only before the parties have completed their obligations under the contract.

Question 7

Offers that fail to provide a specific time for acceptance are invalid because they are deemed to be indefinite.

Accepted Answer

A) True 
 B)False

Question 8

Generally speaking,advertisements for the sale of goods at specified prices are considered to be offers.

Accepted Answer

A) True 
 B)False

Question 9

Janet goes to an electronics store to purchase design software.The software comes in a sealed package and when Janet opens it,she finds that the CD containing the program is sealed in an envelope that states,"By opening this envelope,you are accepting the terms of the license agreement that is contained in this packaging.If you do not want to accept the terms of the license,you can return this product." This method of contracting is referred to as:

Accepted Answer

A)  browsewrap contracting.
B)  shrinkwrap contracting.
C)  clickwrap contracting.
D)  software contracting.

Question 10

The UCC often creates contractual liability in situations where no contract would have resulted at common law.

Accepted Answer

A) True 
 B)False

Exam 10: The Agreement: Offer

Correct Answer
verified

When can the offeror effectively revoke his/her offer?

Correct Answer
verified

The UCC often creates contractual liability in situations where no contract would have resulted at common law.

Correct Answer
verified

Generally speaking,advertisements for the sale of goods at specified prices are considered to be offers.

Correct Answer
verified

A computer manufacturer offered to sell sophisticated computer equipment to another country.Two days later,before the offer was accepted,Congress placed an embargo on all sales to this country;and therefore,the offer was terminated by the embargo.This is an example of:

Correct Answer
verified

Offers that fail to provide a specific time for acceptance are invalid because they are deemed to be indefinite.

Correct Answer
verified

When negotiations occur through the mail,there is usually a limit put on the time:

Correct Answer
verified

Correct Answer
verified

The offeror is said to be "the master of the offer." This means that offerors have the power to determine the terms and conditions under which they are bound to a contract.

Correct Answer
verified

When an auction is advertised as being ________,the seller is treated as having made an offer to sell the goods to the highest bidder.

Correct Answer
verified

Exam 10: The Agreement: Offer

Correct AnswerverifiedShow Answer

When can the offeror effectively revoke his/her offer?

Correct AnswerverifiedShow Answer

The UCC often creates contractual liability in situations where no contract would have resulted at common law.

Correct AnswerverifiedShow Answer

Generally speaking,advertisements for the sale of goods at specified prices are considered to be offers.

Correct AnswerverifiedShow Answer

A computer manufacturer offered to sell sophisticated computer equipment to another country.Two days later,before the offer was accepted,Congress placed an embargo on all sales to this country;and therefore,the offer was terminated by the embargo.This is an example of:

Correct AnswerverifiedShow Answer

Offers that fail to provide a specific time for acceptance are invalid because they are deemed to be indefinite.

Correct AnswerverifiedShow Answer

When negotiations occur through the mail,there is usually a limit put on the time:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The offeror is said to be "the master of the offer." This means that offerors have the power to determine the terms and conditions under which they are bound to a contract.

Correct AnswerverifiedShow Answer

When an auction is advertised as being ________,the seller is treated as having made an offer to sell the goods to the highest bidder.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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