Jaime offered to buy kevins bike jamie is the a

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Essentials of Business Law
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Chapter 21 / Exercise 04
Essentials of Business Law
Beatty
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29. Jaime offered to buy Kevin's bike. Jamie is the:a. offeree.b. offeror.c. mortgagor. d. trustee.
ANSWER:POINTS:DIFFICULTY:b1Difficulty:EasyNATIONAL STANDARDS: United States- BUSPROG: AnalyticSTATE STANDARDS: United States- NC- AICPA: BE-Critical ThinkingTOPICS: KEYWORDS:A-Head: OfferBloom's: Knowledge
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Essentials of Business Law
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Chapter 21 / Exercise 04
Essentials of Business Law
Beatty
Expert Verified
30. Acme Co. offers to buy 1000 widgets from Widget World Co. The written offer provides for 1000 at $10 per widget, to be delivered May 1. The offer has no other provisions. Widget World sends a written acceptance. However, the acceptance also states that if any claim arises under this contract, Widget World must be notified within 10 days. Acme does not object to this provision. Both parties are merchants. Which of the following best describes this situation?
cPOINTS: 1DIFFICULTY: Difficulty: ChallengingNATIONAL STANDARDS: United States- BUSPROG: AnalyticSTATE STANDARDS: United States- NC- AICPA: BE-Critical ThinkingTOPICS: KEYWORDS:A-Head: AcceptanceBloom's: Application31. Vivian goes to an auction and sees a rare antique lamp that is an identical match to one she already has. At theproper time she bids on the lamp and is the highest bidder. Even though she is the highest bidder, the auctioneerrefuses to accept her bid and withdraws the lamp from the auction. Can the auctioneer do that?
aPOINTS: 1DIFFICULTY: Difficulty: ModerateNATIONAL STANDARDS: United States- BUSPROG: AnalyticSTATE STANDARDS: United States- NC- AICPA: BE-Critical ThinkingTOPICS: KEYWORDS:A-Head: OfferBloom's: Evaluation

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