BLCh10 - Ch10 31) The basic concept that both parties to a...

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Ch10 31) The basic concept that both parties to a contract should have agreed to the same terms is referred to as: A) bilateral agreement B) mutual assent C) co-agreement D) common intent 32) Which of the following are necessary to meet the requirements of a definite offer? A) identification of the parties, subject matter, and quantity B) consideration to be paid C) time of performance D) A, B, and C E) A and B only 33) In order for an offer to be valid, the following must be met EXCEPT for which of the following? A) There is an objective intent by the offeror to enter into a contract. B) The offer must be in writing and signed by the offeror. C) The offer must be communicated to the offeree. D) The offer must be certain enough that most people can figure out what is being offered. 34) The objective theory of contracts is based on the which of the following premises? A) Even offers made in obvious jest can be the basis of a contract. B) Every contract must have a central object to it. C) Every contract must have consideration given by both parties. D) Whether the intent is present is based on how a reasonable person would view the parties' actions rather than on the actual intentions of the parties. E) The intent to be bound is determined after the parties have had a chance to perform the contract. 35) The concept of objective intent with respect to contract law means which of the following? A) When forming a contract, each party must expressly state an intent to be obligated under the terms of an agreement. B) The parties must each intend to be bound by the terms of an agreement based on each party's true intent, whether or not that intent is known by the other party. C) The parties' intent to be bound by the terms of a contract is based on whether an outsider observing the parties' words and conduct would reasonably conclude that the parties have the needed intent. D) So long as one party intends to be bound by the terms of an agreement, the objective intent requirement will be met. 36) In general, who can effectively accept an offer for a unilateral contract? A) Any person who performs the action requested in the offer, which can occur either before or after learning of the offer. B) Any person who performs the action requested in the offer, so long as the offer had been communicated to that person prior to the performance of the act. C) Any person who promises to perform the action requested in the offer, which can occur either before of after learning of the offer. D) Any person who promises to perform the action requested in the offer, so long as the offer had been communicated to that person prior to the making of the return promise. 189
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37) If a contract omitted some terms, which of the following terms could be implied by the court? A) quantity
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BLCh10 - Ch10 31) The basic concept that both parties to a...

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