Business Law Departmental Exam Test Bank - DEPARTMENT EXAM TEST BANK True\/False Indicate whether the sentence or statement is true or false 1_F The

Business Law Departmental Exam Test Bank - DEPARTMENT EXAM...

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DEPARTMENT EXAM TEST BANK True/FalseIndicate whether the sentence or statement is true or false. The offeror is the party with the power to decide whether to create a contract. An offer made as a joke, where a reasonable person would conclude that it was made as a joke, cannot result in a contract. The communication of an offer can be made by the offeror or the offeror's agent. The mirror image rule permits the offeree's acceptance of a contract to vary from the offer.9.__F__ A person who delegates his contractual duties is fully relieved of any further duty to performunder that contract. A parent or parents who sign a contract on behalf of their minor child may disaffirm the contract just as their child may. A party who makes a mistake about the value of the object of a contract is normally permitted to avoid the contract. Expenses, such as those incurred to obtain performance from a source other than the original contracting party, are called consequential damages. An incidental beneficiary can directly sue the maker of a contract in the case of breach. A quasi contract is another name for an oral contract.22.__F__ "I promise to pay you $100 if you will promise to fix my car next month." This is an offer for a unilateral contract. If a person who has been declared incompetent by a court enters into an agreement, that agreement is void, because it does not meet all the requirements of a binding contract.

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