Contract Questions

Fixed debt executed debt liquidated debt unexecuted

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Unformatted text preview: t. executed debt. liquidated debt. unexecuted debt. 34. a. b. A debt which has been reduced to a sum certain of money is called an unliquidated debt. True False 35. a. b. c. d. A definite proposal requesting a forbearance and made by one person to another is an offer. an invitation. an acceptance. a quasi contract. 36. a. b. c. d. e. A female attains the age of majority at what age? 12 14 18 21 25 37. a. b. c. d. A “firm offer” under UCC may be oral. must be in writing. requires consideration from both parties. may be used in any contract. 38. A friend of Larry T. sent in Larry’s name in response to an advertisement for “10 records for one cent and a promise to buy 6 more over the year.” When Larry T. received the records he opened and used them. He knew he hadn’t ordered the records. Under quasi-contract, Larry T. must pay since he knew it was a mistake. a. b. c. d. Larry T. must pay because one must always pay for unordered merchandise that comes in the mail. Larry T. does...
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