Courts interpret contracts using an objective standard.
TRUE
TRUE
An "instructed authorization" occurs if the means by which an acceptance can be communicated to the offeror is expressly stated in the offer.
FALSE
FALSE
If an acceptance is received after a rejection is received, the acceptance is still valid.
FALSE
FALSE
Under the Mailbox Rule, a valid contract has been formed if a rejection is dispatched, but before it is received, the acceptance is communicated to the offeror.
TRUE
TRUE
Only the offeree to whom an offer is directed can accept the offer.
TRUE
TRUE
Once an offer is made, an offeror has no right to terminate it before receiving a reply.
FALSE
FALSE
An offer by a retailer to purchase seasonal goods from a wholesaler would not lapse sooner than an offer to purchase goods that could easily be sold all year long.
FALSE
FALSE
There are a limited number of circumstances under which silence can be an acceptance.
TRUE
TRUE
If the subject matter of an offer is destroyed, the offer terminates after 10 days or notice of the death to the offeree, whichever comes first.
FALSE
FALSE
If an offeree makes a mistake and sends an acceptance to the wrong address, there is an acceptance upon dispatch.
FALSE
FALSE
What was the result in the Opening Case in which the plaintiff attempted to buy a jet from Pepsi for Pepsi points and some additional funds?
A. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi failed to specifically reserve details of the offer to a separate writing.
B. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi's advertisement was considered an offer which the plaintiff validly accepted.
C. The plaintiff prevailed, and Pepsi had to provide the jet as offered because Pepsi did not revoke the offer soon enough.
D. The plaintiff did not prevail because the jet was unobtainable as a military aircraft.
E. The plaintiff did not prevail because Pepsi reserved the details of the offer to a separate writing, and Pepsi had the authority to reject the plaintiff's offer to purchase.
A. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi failed to specifically reserve details of the offer to a separate writing.
B. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi's advertisement was considered an offer which the plaintiff validly accepted.
C. The plaintiff prevailed, and Pepsi had to provide the jet as offered because Pepsi did not revoke the offer soon enough.
D. The plaintiff did not prevail because the jet was unobtainable as a military aircraft.
E. The plaintiff did not prevail because Pepsi reserved the details of the offer to a separate writing, and Pepsi had the authority to reject the plaintiff's offer to purchase.
Which of the following is the first element of a contract?
A. An agreement
B. An intent
C. An offer
D. An acceptance
E. A writing
A. An agreement
B. An intent
C. An offer
D. An acceptance
E. A writing
What was the result in the case in the text Lucy v. Zehmer involving whether allegations of joking prevented the formation of the contract involved?
A. The court ruled that the contract would not be enforced because one of the parties was subjectively joking.
B. The court ruled that the contract would not be enforced because one of the parties was joking, and a reasonable person should have known that.
C. The court ruled that the contract would not be enforced because the parties had been drinking although they were not intoxicated.
D. The court ruled that the agreement would be enforced because under the applicable standard, it was not apparent that joking was involved.
E. The court ruled that the contract would be enforced because of what the parties verbally said regardless of whether an objective person would have thought joking was involved.
A. The court ruled that the contract would not be enforced because one of the parties was subjectively joking.
B. The court ruled that the contract would not be enforced because one of the parties was joking, and a reasonable person should have known that.
C. The court ruled that the contract would not be enforced because the parties had been drinking although they were not intoxicated.
D. The court ruled that the agreement would be enforced because under the applicable standard, it was not apparent that joking was involved.
E. The court ruled that the contract would be enforced because of what the parties verbally said regardless of whether an objective person would have thought joking was involved.
Constance asks Kathy if Kathy will sell her used business book for $50. What is the status of the negotiation?
A. No offer has been made.
B. An offer has been made, but it may be revoked prior to acceptance.
C. An offer has been made that may not be revoked prior to acceptance.
D. A contract has been entered into.
E. A contract has been entered into, but it may be set aside at the option of either party.
A. No offer has been made.
B. An offer has been made, but it may be revoked prior to acceptance.
C. An offer has been made that may not be revoked prior to acceptance.
D. A contract has been entered into.
E. A contract has been entered into, but it may be set aside at the option of either party.
What was the result in the case nugget, Lefkowitz v. Great Minneapolis Surplus Store, Inc., involving an advertisement for the sale of fur coats?
A. The court ruled that the advertisement was not an offer because it involved a luxury good.
B. The court ruled that the advertisement was an offer but that the customer who was suing had not properly accepted.
C. The court ruled that the advertisement was not an offer because it was a ridiculously low offer which the plaintiff should have known was not to be taken seriously.
D. The court ruled that the ad was not an offer because ads are never offers, only invitations for customers to make an offer.
E. The court ruled that the ad was an offer and that the plaintiff properly accepted it.
A. The court ruled that the advertisement was not an offer because it involved a luxury good.
B. The court ruled that the advertisement was an offer but that the customer who was suing had not properly accepted.
C. The court ruled that the advertisement was not an offer because it was a ridiculously low offer which the plaintiff should have known was not to be taken seriously.
D. The court ruled that the ad was not an offer because ads are never offers, only invitations for customers to make an offer.
E. The court ruled that the ad was an offer and that the plaintiff properly accepted it.
If nothing is stated to the contrary in terms of an auction, an auction is presumed to be ______.
A. Without controls
B. With controls
C. Without reserve
D. With reserve
E. Without qualifications
A. Without controls
B. With controls
C. Without reserve
D. With reserve
E. Without qualifications
In an auction _________, the seller is treated as making an offer to accept the highest bid.
A. Without controls
B. With controls
C. Without reserve
D. With reserve
E. Without qualifications
A. Without controls
B. With controls
C. Without reserve
D. With reserve
E. Without qualifications
The __________ terms of a contract are those terms that would allow a court to determine what the damages would be in the event that one of the parties breaches the contract.
A. Important
B. Significant
C. Material
D. Adequate
E. Identifiable
A. Important
B. Significant
C. Material
D. Adequate
E. Identifiable
Which of the following terms would be considered material terms?
A. Subject matter
B. Price
C. Quantity
D. Subject matter and price but not quantity
E. Subject matter, price, and quantity
A. Subject matter
B. Price
C. Quantity
D. Subject matter and price but not quantity
E. Subject matter, price, and quantity
What was the result in the case discussed in the text Andrus v. State Department of Transportation, and City of Olympia in which the plaintiff sued because a job offer was allegedly revoked?
A. The plaintiff won because the city had validly offered him a job and had no right to revoke it.
B. The plaintiff won because, while there was no contract, the court ruled that the city was not allowed to mislead him on equitable grounds and also on grounds of unlawful discrimination.
C. The defendant won because it had truly received a bad reference.
D. The defendant won because the plaintiff had not specifically accepted the job.
E. The defendant won because the purported job offer contained insufficient information to be considered reasonably certain in regard to its terms.
A. The plaintiff won because the city had validly offered him a job and had no right to revoke it.
B. The plaintiff won because, while there was no contract, the court ruled that the city was not allowed to mislead him on equitable grounds and also on grounds of unlawful discrimination.
C. The defendant won because it had truly received a bad reference.
D. The defendant won because the plaintiff had not specifically accepted the job.
E. The defendant won because the purported job offer contained insufficient information to be considered reasonably certain in regard to its terms.
In which of the following ways can an offer terminate?
A. Revocation by the offeror only.
B. Revocation by the offeror, or rejection or counteroffer by the offeree only.
C. Revocation by the offeror, rejection or counteroffer by the offeree, or destruction of the subject matter.
D. Only by revocation by the offeror after it has been held open for five days.
E. Only by revocation by the offeror after it has been held open for ten days.
A. Revocation by the offeror only.
B. Revocation by the offeror, or rejection or counteroffer by the offeree only.
C. Revocation by the offeror, rejection or counteroffer by the offeree, or destruction of the subject matter.
D. Only by revocation by the offeror after it has been held open for five days.
E. Only by revocation by the offeror after it has been held open for ten days.
Which of the following refers to the right of an offeror to revoke an offer?
A. The offeror is the "controller of his offer."
B. The offeror is the "master of his offer."
C. The offeror is the "proponent of his offer."
D. The offeror is the "adjudicator of his offer."
E. The offeror is the "arbiter of his offer."
A. The offeror is the "controller of his offer."
B. The offeror is the "master of his offer."
C. The offeror is the "proponent of his offer."
D. The offeror is the "adjudicator of his offer."
E. The offeror is the "arbiter of his offer."
If a person wishes to ensure that an offer will in fact be held open for a set period of time, the person may do so by entering into a[n] ______________ contract with the offeror.
A. Clear
B. Explicit
C. Unrevokable
D. Option
E. None of the above
A. Clear
B. Explicit
C. Unrevokable
D. Option
E. None of the above
As a general rule, when is revocation effective?
A. When it is mailed by the offeror.
B. When it is received by the offeree.
C. One day after it is made.
D. Two days after it is made.
E. Three days after it is made.
A. When it is mailed by the offeror.
B. When it is received by the offeree.
C. One day after it is made.
D. Two days after it is made.
E. Three days after it is made.
Which of the following is true regarding the termination of an offer based on a rejection?
A. Regardless of how long an offeror states that an offer will be held open, once the offeree rejects it, the offer is terminated.
B. Even on rejection, an offer is not terminated until the expiration of the time period for which it was originally to remain open.
C. An offer must remain open for at least two days before it is terminated following a rejection by an offeree.
D. An offer must remain open for at least three days before it is terminated following a rejection by an offeree.
E. An offer must remain open for at least four days before it is terminated following a rejection by an offeree.
A. Regardless of how long an offeror states that an offer will be held open, once the offeree rejects it, the offer is terminated.
B. Even on rejection, an offer is not terminated until the expiration of the time period for which it was originally to remain open.
C. An offer must remain open for at least two days before it is terminated following a rejection by an offeree.
D. An offer must remain open for at least three days before it is terminated following a rejection by an offeree.
E. An offer must remain open for at least four days before it is terminated following a rejection by an offeree.
Which of the following is an offer made by an offeree to an offeror relating to the same matter as the original offer and proposing a substituted bargain differing from that proposed by the original offer?
A. A revocation
B. An acceptance
C. A counteroffer
D. A cross offer
E. A bilateral offer
A. A revocation
B. An acceptance
C. A counteroffer
D. A cross offer
E. A bilateral offer
If a[n] __________ contract exists, the administrator of an offeror's estate must hold an offer open until it expires in accordance with the contract.
A. Bilateral
B. Unilateral
C. Complete
D. Option
E. Bilateral or option
A. Bilateral
B. Unilateral
C. Complete
D. Option
E. Bilateral or option
If the subject matter of an offer is destroyed, the offer _______.
A. Immediately terminates
B. Is extended for seven days
C. Is extended for fourteen days
D. Is extended for twenty-one days
E. Is extended for thirty days
A. Immediately terminates
B. Is extended for seven days
C. Is extended for fourteen days
D. Is extended for twenty-one days
E. Is extended for thirty days
If the subject matter of an offer becomes illegal, what is the result?
A. The offer immediately terminates.
B. There is no effect as long as the offer was made at least one day before the subject matter of the offer became illegal.
C. There is no effect as long as the offer was made at least ten days before the subject matter of the offer became illegal.
D. There is no effect as long as the offer was made at least fifteen days before the subject matter of the offer became illegal.
E. There is no effect as long as the offer was made at least thirty days before the subject matter of the offer became illegal.
A. The offer immediately terminates.
B. There is no effect as long as the offer was made at least one day before the subject matter of the offer became illegal.
C. There is no effect as long as the offer was made at least ten days before the subject matter of the offer became illegal.
D. There is no effect as long as the offer was made at least fifteen days before the subject matter of the offer became illegal.
E. There is no effect as long as the offer was made at least thirty days before the subject matter of the offer became illegal.
In the absence of a time condition in an offer, the offer will expire _________.
A. In forty-eight hours
B. In seven days
C. In thirty days
D. In forty-five days
E. After a reasonable amount of time
A. In forty-eight hours
B. In seven days
C. In thirty days
D. In forty-five days
E. After a reasonable amount of time
Which of the following is presumed to be a reasonable amount of time when considering whether an offer has expired?
A. Forty-eight hours.
B. Seven days.
C. Thirty days.
D. Forty-five days.
E. There is no set amount of time, and what constitutes a reasonable amount of time varies depending upon the subject matter of the offer.
A. Forty-eight hours.
B. Seven days.
C. Thirty days.
D. Forty-five days.
E. There is no set amount of time, and what constitutes a reasonable amount of time varies depending upon the subject matter of the offer.
Which of the following is a way in which an offeree can manifest intent to enter into a bilateral contract?
A. By performance only.
B. By a return promise only.
C. By performance or by a return promise.
D. By performance, by a return promise, or by a counteroffer.
E. By a signed writing only.
A. By performance only.
B. By a return promise only.
C. By performance or by a return promise.
D. By performance, by a return promise, or by a counteroffer.
E. By a signed writing only.
In which of the following ways may an offeree accept a unilateral contract?
A. By making a counteroffer.
B. By signed writing only.
C. By either verbal acceptance or a signed writing.
D. By performance.
E. By performance, by a verbal acceptance, or by a signed writing.
A. By making a counteroffer.
B. By signed writing only.
C. By either verbal acceptance or a signed writing.
D. By performance.
E. By performance, by a verbal acceptance, or by a signed writing.
Gretchen offers $100 to anyone who can return her lost dog, Sparky. Haley returns the dog and requests the money. Gretchen says that there is no binding contract. Which of the following is true regarding Gretchen's statement?
A. Gretchen is incorrect because there is a binding bilateral contract.
B. Gretchen is incorrect because there is a binding unilateral contract which Haley accepted by performing.
C. Gretchen is correct because there is no binding bilateral contract.
D. Gretchen is correct because there is no binding unilateral contract.
E. Gretchen is correct because Haley acted incorrectly by her manner of attempted acceptance.
A. Gretchen is incorrect because there is a binding bilateral contract.
B. Gretchen is incorrect because there is a binding unilateral contract which Haley accepted by performing.
C. Gretchen is correct because there is no binding bilateral contract.
D. Gretchen is correct because there is no binding unilateral contract.
E. Gretchen is correct because Haley acted incorrectly by her manner of attempted acceptance.
When acceptance is examined under the common law, how do the basic requirements for a valid acceptance compare with those for a valid offer?
A. The basic requirements for a valid acceptance are materially different from those for a valid offer.
B. The basic requirements for a valid acceptance parallel those for a valid offer.
C. The basic requirements for a valid acceptance are different from those for a valid offer only because an offer must be in writing.
D. The basic requirements for a valid acceptance are different from those for a valid offer only because an acceptance must be in writing.
E. The basic requirements for a valid acceptance are different from those for a valid offer only because an offer must be revoked immediately but acceptance can be withheld for a reasonable period of time.
A. The basic requirements for a valid acceptance are materially different from those for a valid offer.
B. The basic requirements for a valid acceptance parallel those for a valid offer.
C. The basic requirements for a valid acceptance are different from those for a valid offer only because an offer must be in writing.
D. The basic requirements for a valid acceptance are different from those for a valid offer only because an acceptance must be in writing.
E. The basic requirements for a valid acceptance are different from those for a valid offer only because an offer must be revoked immediately but acceptance can be withheld for a reasonable period of time.
Which of the following is a requirement for a valid acceptance?
A. Manifestation of intent to be bound by the acceptance of the contract.
B. Agreement to the definite and certain terms of the offer.
C. Communication to the offeror.
D. Manifestation of intent to be bound by the acceptance of the contract, agreement to the definite and certain terms of the offer, and communication of that to the offeror.
E. Manifestation of intent to be bound by the acceptance to the contract and communication of a counteroffer to the offeror along with a writing specifying all pertinent terms.
A. Manifestation of intent to be bound by the acceptance of the contract.
B. Agreement to the definite and certain terms of the offer.
C. Communication to the offeror.
D. Manifestation of intent to be bound by the acceptance of the contract, agreement to the definite and certain terms of the offer, and communication of that to the offeror.
E. Manifestation of intent to be bound by the acceptance to the contract and communication of a counteroffer to the offeror along with a writing specifying all pertinent terms.
Which of the following is false regarding how the Japanese tend to view contracts?
A. The Japanese tend to view contracts as ongoing relationships.
B. The Japanese tend to view contracts as relationships in which parties work with each other to smooth out any problems that arise in performance.
C. The Japanese tend to be suspicious of long, detailed contracts.
D. The Japanese have a preference for flexible contracts.
E. The Japanese do not desire that any terms be left to be decided later.
A. The Japanese tend to view contracts as ongoing relationships.
B. The Japanese tend to view contracts as relationships in which parties work with each other to smooth out any problems that arise in performance.
C. The Japanese tend to be suspicious of long, detailed contracts.
D. The Japanese have a preference for flexible contracts.
E. The Japanese do not desire that any terms be left to be decided later.
Which of the following is true regarding the situation that occurs when a party has made a unilateral offer and another party has begun performance?
A. The offeror has the right to revoke the offer at any time before performance has been completed.
B. The offeror cannot revoke if at least one-third of the performance has been completed.
C. The offeror cannot revoke if at least one-half of the performance has been completed.
D. The offeror cannot revoke if at least three-fourths of the performance has been completed.
E. The offeror must give the offeree a reasonable time in which to complete the performance.
A. The offeror has the right to revoke the offer at any time before performance has been completed.
B. The offeror cannot revoke if at least one-third of the performance has been completed.
C. The offeror cannot revoke if at least one-half of the performance has been completed.
D. The offeror cannot revoke if at least three-fourths of the performance has been completed.
E. The offeror must give the offeree a reasonable time in which to complete the performance.
Inez, wishing to sell a used business law book, calls Janice and tells her that if she does not hear from her within twenty-four hours, she will assume that Janice wishes to purchase the book for $50. Which of the following is correct regarding the status of the proposed book sale?
A. There is no contract because in this situation silence cannot be used to form a contract.
B. There can be no contract because the offer was not made in person.
C. There can be no contract because the offer was not made in writing.
D. Janice can avoid there being a contract only if she can prove by preponderance of the evidence that she did not hear about the offer before the stated expiration time.
E. Janice can avoid there being a contract only if she can prove beyond a reasonable doubt that she did not hear about the offer before the stated expiration time.
A. There is no contract because in this situation silence cannot be used to form a contract.
B. There can be no contract because the offer was not made in person.
C. There can be no contract because the offer was not made in writing.
D. Janice can avoid there being a contract only if she can prove by preponderance of the evidence that she did not hear about the offer before the stated expiration time.
E. Janice can avoid there being a contract only if she can prove beyond a reasonable doubt that she did not hear about the offer before the stated expiration time.
Which of the following sets forth the common law rule that the terms of an acceptance must mirror the terms of an offer?
A. The Matching Rule
B. The Complete Rule
C. The Mirror Image Rule
D. The Exact Rule
E. The Parallel Rule
A. The Matching Rule
B. The Complete Rule
C. The Mirror Image Rule
D. The Exact Rule
E. The Parallel Rule
Which of the following is generally true if no means of communicating an acceptance is specified in an offer?
A. The acceptance must be in writing.
B. The acceptance must be made verbally either by telephone or in person.
C. No valid contract may be entered into because the offer must specify a means by which to accept.
D. Acceptance may be made by any reasonable means.
E. Acceptance must be made orally or in writing within twenty-four hours.
A. The acceptance must be in writing.
B. The acceptance must be made verbally either by telephone or in person.
C. No valid contract may be entered into because the offer must specify a means by which to accept.
D. Acceptance may be made by any reasonable means.
E. Acceptance must be made orally or in writing within twenty-four hours.
Which of the following provides that an acceptance is valid when it is placed in the mailbox?
A. The Acceptance Rule
B. The Contract Rule
C. The Reasonable Rule
D. The Mailbox Rule
E. The Contract Legality Rule
A. The Acceptance Rule
B. The Contract Rule
C. The Reasonable Rule
D. The Mailbox Rule
E. The Contract Legality Rule
Which of the following provides that a revocation is effective only when received by the offeree?
A. The Acceptance Rule
B. The Contract Rule
C. The Reasonable Rule
D. The Mailbox Rule
E. The Contract Legality Rule
A. The Acceptance Rule
B. The Contract Rule
C. The Reasonable Rule
D. The Mailbox Rule
E. The Contract Legality Rule
Tina tells Barry that she will mow his yard for the summer for $800. Barry thinks about it and drops a note in the mail to Tina telling her that he rejects her offer. He thinks about it, however, and calls her to tell her he accepts before she receives his rejection. Which of the following is true under the mailbox rule?
A. The offer was no longer outstanding because of the rejection.
B. Barry could not accept verbally.
C. Barry validly accepted, but his acceptance was revoked when Tina received the rejection.
D. The acceptance was invalid because the mailbox rule requires that the time of payment be specifically set forth before an acceptance is formalized.
E. The acceptance is valid, and the rejection has no effect.
A. The offer was no longer outstanding because of the rejection.
B. Barry could not accept verbally.
C. Barry validly accepted, but his acceptance was revoked when Tina received the rejection.
D. The acceptance was invalid because the mailbox rule requires that the time of payment be specifically set forth before an acceptance is formalized.
E. The acceptance is valid, and the rejection has no effect.
Which of the following is true regarding the Uniform Commercial Code?
A. It does not affect the making of an agreement and only applies after an agreement is formed.
B. It applies only in situations not addressed at all by the common law.
C. It applies only to clarify common law in situations in which the common law is unclear.
D. It applies in all situations involving agreements.
E. Some elements of a contract under the common law have been modified under the UCC for contracts for the sale of goods.
A. It does not affect the making of an agreement and only applies after an agreement is formed.
B. It applies only in situations not addressed at all by the common law.
C. It applies only to clarify common law in situations in which the common law is unclear.
D. It applies in all situations involving agreements.
E. Some elements of a contract under the common law have been modified under the UCC for contracts for the sale of goods.
Which of the following is true regarding distinguishing an offer from an invitation to negotiate?
A. Whether an offer in fact existed is a question of law.
B. Whether an offer in fact existed is a question of fact.
C. Whether an offer in fact existed is a mixed question of law and fact.
D. Whether an offer in fact existed depends solely on whether the alleged offer included a specific price.
E. Whether an offer in fact existed depends solely on whether an acceptance of the alleged offer was made immediately so that the offeror knew he or she was bound.
A. Whether an offer in fact existed is a question of law.
B. Whether an offer in fact existed is a question of fact.
C. Whether an offer in fact existed is a mixed question of law and fact.
D. Whether an offer in fact existed depends solely on whether the alleged offer included a specific price.
E. Whether an offer in fact existed depends solely on whether an acceptance of the alleged offer was made immediately so that the offeror knew he or she was bound.
Which of the following was the result in the case in the text Adone v. Paletto, involving the rejection of a purported acceptance of an offer of judgment because it was not made within the time limit of 10 days specified in the offer of judgment?
A. Rejection of the acceptance was unjustified because offers of judgment may not contain time limits.
B. Rejection of the acceptance was unjustified because allowing only 10 days for acceptance is unreasonable.
C. Rejection of the acceptance was unjustified because of the plaintiff's severe injuries.
D. Rejection of the acceptance was enforceable because a trial had already been held.
E. Rejection of the acceptance was enforceable because the 10 days the other party had to accept had expired.
A. Rejection of the acceptance was unjustified because offers of judgment may not contain time limits.
B. Rejection of the acceptance was unjustified because allowing only 10 days for acceptance is unreasonable.
C. Rejection of the acceptance was unjustified because of the plaintiff's severe injuries.
D. Rejection of the acceptance was enforceable because a trial had already been held.
E. Rejection of the acceptance was enforceable because the 10 days the other party had to accept had expired.
Prudence, a mean business law teacher, offers $50 to any student who will mow her lawn. Sam goes right over and begins mowing. Just before he finishes, Prudence goes over and tells him that she revokes her offer. Which of the following is true regarding Sam's entitlement to payment?
A. Sam is not entitled to payment because a bilateral contract was involved that could only be accepted by full performance prior to revocation.
B. Sam is not entitled to payment because a unilateral contract was involved that could only be accepted by full performance prior to revocation.
C. Sam is entitled to only a proportional recovery based on the amount of work he had done prior to the revocation because Prudence always retained the right to validly revoke.
D. Sam is entitled to recover because a unilateral contract was involved, and he was entitled to a reasonable amount of time in which to complete the job.
E. Sam is entitled to recover because a bilateral contract was involved, and he was entitled to a reasonable amount of time in which to complete the job.
A. Sam is not entitled to payment because a bilateral contract was involved that could only be accepted by full performance prior to revocation.
B. Sam is not entitled to payment because a unilateral contract was involved that could only be accepted by full performance prior to revocation.
C. Sam is entitled to only a proportional recovery based on the amount of work he had done prior to the revocation because Prudence always retained the right to validly revoke.
D. Sam is entitled to recover because a unilateral contract was involved, and he was entitled to a reasonable amount of time in which to complete the job.
E. Sam is entitled to recover because a bilateral contract was involved, and he was entitled to a reasonable amount of time in which to complete the job.
When buying software on the Internet, Molly clicks "OK" on an agreement governing the transaction and providing that disputes will be arbitrated. Which of the following is true regarding that type of agreement?
A. Molly will not be bound in most states because of state laws prohibiting such agreements.
B. Molly will not be bound unless she verbally confirmed the agreement with a company representative.
C. Molly will not be bound because of a federal law making all such agreements invalid.
D. Molly will not be bound because of a federal law approving some agreements of that type but making arbitration clauses contained therein invalid.
E. None of the above is true.
A. Molly will not be bound in most states because of state laws prohibiting such agreements.
B. Molly will not be bound unless she verbally confirmed the agreement with a company representative.
C. Molly will not be bound because of a federal law making all such agreements invalid.
D. Molly will not be bound because of a federal law approving some agreements of that type but making arbitration clauses contained therein invalid.
E. None of the above is true.
Which of the following is true regarding the Uniform Electronic Transactions Act?
A. It eliminates all effects of the mailbox rule.
B. It provides that offers may not be accepted electronically but otherwise retains aspects of the mailbox rule.
C. It provides that acceptances may not be made electronically but otherwise retains aspects of the mailbox rule.
D. It seems to create an electronic version of the mailbox rule.
E. None of the above because there is no such act.
A. It eliminates all effects of the mailbox rule.
B. It provides that offers may not be accepted electronically but otherwise retains aspects of the mailbox rule.
C. It provides that acceptances may not be made electronically but otherwise retains aspects of the mailbox rule.
D. It seems to create an electronic version of the mailbox rule.
E. None of the above because there is no such act.
Trudy signs a contract with ABC Book Club without reading it. The contract provides that new books will be sent to her eBook reader every month unless she sends notification rejecting the receipt of new books. Which of the following is true regarding whether the contract is binding?
The contract is binding.
Which of the following is true regarding acceptable means of acceptance if no means of communicating an acceptance is specified in an offer?
If no means of communicating the acceptance is specified, any reasonable means is generally acceptable.
Which of the following was the result in Alexander v. Lafayette Crime Stoppers Inc., the case in the text in which the plaintiffs sued for collection of reward money offered to catch a serial killer by the defending publications, and the publications defended on the basis that the plaintiffs failed to provide notice as required by the reward offers because the plaintiffs provided relevant information to law enforcement, not the defendants?
That defendants did not receive acceptance of the reward offer and that, therefore, no contract was formed.
If the subject matter of an offer becomes illegal, what is the result?
The offer immediately terminates.
Which doctrine may courts use to estop, or prevent, an offeror from revoking an offer based on a party's taking steps in reasonable reliance on an offer?
Promissory estoppel
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