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Chapter11 Agreement - Chp 11 Agreement 1 An officer of...

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Chp 11 - Agreement 1. An officer of International Sales Corporation makes overtures to a representative of Global Distribution, Inc., regarding a business deal. Under the objective theory of contracts, the officer’s words and conduct are held to mean whatever a. the officer subjectively intended them to mean. b. a reasonable person in the officer’s position would think they meant. c. a reasonable person in the representative’s position would think they meant. d. the representative subjectively thought they meant. 2. Local Delivery Service, Inc., offers to deliver computers to Micro Store’s customers for a certain price. Local’s intent to extend a serious offer to Micro is determined by reference to Local’s a. assumptions. b. beliefs. c. intentions. d. words and conduct. 3. Dona and Eden sign a lease that includes a clause permitting Dona to extend the lease at an amount of rent to be agreed on at the time of the extension. The clause is a. enforceable, because it is part of a lease. b. enforceable, if the parties intend the clause to be binding. c. not enforceable, because it does not include a price term. d. not enforceable, because it is not in the right form. 4. Nate tells Opal, “I might sell the skis that I bought last fall since I haven’t used them and the skiing season is almost over.” This is a. an acceptance of an offer.
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b. an invitation to accept an offer. c. an offer. d. a statement of future intent. 5. Royal Properties, Inc., mails a flyer to hundreds of firms, advertising a building for sale. Standard Manufacturing Company responds by saying, “We accept your offer.” Between Royal and Standard, there is
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