cheeseman_buslaw7_tif_10

cheeseman_buslaw7_tif_10 - 10 AGREEMENT 1) With mutual...

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1) With mutual assent between the parties, there is no contract. Answer: FALSE Diff: 1 Topic: Agreement 2) The offeree has the power to create a contract by accepting the offer. Answer: TRUE Diff: 2 Topic: Agreement 3) The making of an offer occurs prior to the formation of a contract. Answer: TRUE Diff: 1 Topic: Agreement 4) Objective intent refers to the actual intent of a particular person. Answer: FALSE Diff: 2 Topic: Offer 5) An offer made in jest, where a reasonable person would conclude that it was made in jest, cannot result in a contract. Answer: TRUE Diff: 2 Topic: Offer 6) An offer made in anger, where a reasonable person would not have known that it was made in anger, cannot result in a contract. Answer: FALSE Diff: 2 Topic: Offer 189 AGREEMENT 10
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7) The effectiveness of an offer is partially dependent upon whether or not it has been communicated to the offeree. Answer: TRUE Diff: 1 Topic: Offer 8) Where the terms of an offer are indefinite, the court can supply a missing term if a reasonable term can be implied. Answer: TRUE Diff: 2 Topic: Definiteness of Terms 9) Under modern law, the court can supply a missing contract term if a reasonable term can be implied. Answer: TRUE Diff: 1 Topic: Definiteness of Terms 10) An offer is considered communicated to the offeree so long as it has been communicated to the offeree in some way by someone. Answer: FALSE Diff: 2 Topic: Communication 11) The communication of an offer can be made by the offeror or the offeror's agent. Answer: TRUE Diff: 2 Topic: Communication 12) Generally, advertisements, catalogs, price lists, etc. are not treated as offers. Answer: TRUE Diff: 1 Topic: Special Offer Situations 13) An advertisement reading, "Our last Trailconquerer XL100 mountain bike, stock number T990234, will be sold to the first buyer with $700," would not be treated as an offer. Answer: FALSE Diff: 2 Topic: Special Offer Situations 190
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14) Reward offers are offers to enter into a unilateral contract. Answer: TRUE Diff: 1 Topic: Special Offer Situations 15) To be entitled to collect on a reward offer, a person need only perform the requested act. Answer: FALSE Diff: 1 Topic: Special Offer Situations 16) In an auction without reserve, the seller is the offeror. Answer: TRUE Diff: 2 Topic: Special Offer Situations 17) In an auction without reserve, the seller must accept the highest bid and cannot withdraw the goods from sale. Answer: TRUE Diff: 2 Topic: Special Offer Situations 18) Revocation refers to the offeree communicating to the offeror that the offeree does not want to accept the offer. Answer: FALSE Diff: 3 Topic: Termination of the Offer by the Action of the Parties 19) A rejection of an offer is generally not effective until it is received by the offeror. Answer:
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This note was uploaded on 12/13/2011 for the course LAW LAW taught by Professor Ricks during the Spring '09 term at Rutgers.

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cheeseman_buslaw7_tif_10 - 10 AGREEMENT 1) With mutual...

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