Contract Questions

Ratification disaffirmance ab initio restitution 416

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Unformatted text preview: must be adequate to be binding. 412. a. b. c. d. The effective moment of rejection is the receipt of the rejection by the offeror. the receipt of the rejection by the offeree. the moment the rejection is placed in the mail. the moment the rejection is correctly addressed, mailed and posted. 413. a. b. c. d. The elements of a contract include all of the following except: an agreement. two or more competent parties. consideration. an illegal purpose. 414. a. b. c. The elements of an enforceable contract include all but which of the following? Mutual assent A legal object Mutual promises d. Capacity of the parties 415. a. b. c. d. The exercise of the power to avoid a contract is known as ____________. ratification disaffirmance ab initio restitution 416. The following conversation took place between Mary and Ed: “Ed, if you wanted to sell your table, what would you ask for it?” Ed: “I suppose $400 would be a fair price.” Mary: “I’ll take it, if you will have it refinished.” Ed: “Sold.”...
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