Contract Questions

280 in order to satisfy the consideration requirement

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Unformatted text preview: order to form a contract, the parties must: manifest their agreement subjectively. manifest their agreement objectively. indicate solely through written word their intent. create a formal document called a contract. 280. In order to satisfy the consideration requirement to form a contract, the consideration exchanged by the parties must a. have a monetary value. b. conform to the parties’ subjective intent. c. be legally sufficient. d. have approximately the same value. 281. In response to an offer, a rejection is mailed on day 1, followed by an acceptance on day 2, the rejection arrived on day 4, the acceptance arrived on day 3. Which of the following is true? a. Offer terminates on day 1. b. Offer terminates on day 4. c. Contract is formed on day 2. d. Contract is formed on day 3. 282. In response to an offer, an acceptance is mailed on day 1, followed by a rejection on day 2, rejection arrives on day 3 and acceptance arrives on day 4. Which of the following is true? a. Offer terminates day 2. b. Offer terminates day 3. c. Contrac...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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