Contract Questions

505 which of the following is least classifiable as a

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Unformatted text preview: correct with regard to a contract? All contracts must be in writing. A person who deposits money in a bank account has entered into a contract with the bank. A contract may be for a tortious purpose. To be valid, a contract must be bilateral and cannot be unilateral. 503. a. b. c. d. Which of the following is correct with regard to counteroffers? A counteroffer operates as a rejection of the original offer. A conditional acceptance is a common type of counteroffer. The receipt of a counteroffer terminates the original offer. All of the above are correct. 504. a. b. c. Which of the following is enforceable without consideration? A new promise to pay a debt barred by the statute of limitations An illusory promise A promise to supply all of the materials a manufacturer will need for the production of a certain item for a specified period of time A promise exchanged for a forbearance d. 505. Which of the following is least classifiable as a necessity for which a minor will be held liable on a contra...
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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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