Ch10 - Ch.10 Quiz Instructions Please read the questions...

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Ch.10 Quiz Instructions Please read the questions carefully. This assessment is worth 100 points. 1. Intent to contract is tested by a subjective standard, which asks whether the parties actually intended to form a contract. (5 points) True False 2. Generally speaking, the UCC's rules for the definiteness of an offer make it easier to form a contract than the traditional common law rules. (5 points) True False 3. Generally speaking, advertisements are not offers. (5 points) True False 4. A revocation normally is effective at the time it is dispatched by the offeror. (5 points) True False 5. The offeror's death automatically terminates an offer, but the offeree's death does not. (5 points) True False 6. An advertisement offering a reward for the return of lost property usually is treated as an offer for a unilateral contract. (5 points) True False 7. Communication to the offeree is one of the requirements for a valid offer. (5 points) True False 8. Article 2 of the UCC has a number of rules that, in effect, tell the court what term to include in an offer that lacks a key term. (5 points) True False 9. Offers that fail to provide a specific time for acceptance are invalid because they are deemed to be indefinite. (5 points)
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True False 10. Under Article 2 of the UCC, some promises for options accompanying offers will be enforced despite the absence of consideration. (5 points) True False 11. X, a manufacturer of pencils, offers to sell Y 1,000,000 pencils for $1 million. The offer, which is signed by X's President, says that it will
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This note was uploaded on 02/28/2012 for the course ACCT 460 taught by Professor Charley during the Spring '12 term at Aachen University of Applied Sciences.

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Ch10 - Ch.10 Quiz Instructions Please read the questions...

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