15 pts Which of the following alterations would most likely be

15 pts which of the following alterations would most

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 Question 111.5 / 1.5 ptsWhich of the following alterations would most likely be considered material?Correct!  Changing the specifications of the items.   Changing the price of the items by 1%.   
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Changing the method of delivery of the items. Changing the specifications of the item would likely be considered material.  De minimus (very small)changes to the price or method of deliver will generally not be considered material alterations. Question 121.5 / 1.5 ptsPromissory Estoppel is a doctrine used only to help creditors get the money owed from a debtor.  True Correct!  False Promissory Estoppel is a doctrine used to enforce many kinds of promises that lack some element ofa contract, most commonly consideration, in situations where when one party has detrimentally relied upon the promise of another and the court believes that in all fairness the promise should be enforced.  This is an equitable doctrine. Question 131.5 / 1.5 ptsA contract of adhesion is one in which there is a certain amount of bargaining between the parties used to decide the exact details of the contract.  True Correct!  False A contract of adhesion is one in which one party has such superior bargaining power it simply offers a “take it or leave it” contract.  This is usually a form contract offered by a merchant.
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 Question 141.5 / 1.5 ptsUnder the UCC, all major details of an agreement must be specifically stated for that agreement to be enforceable.  True Correct!  False Under § 2-204(3) of the UCC, so long as the court finds that the parties intended to make a binding contract and the agreement and the surrounding circumstances give the court a reasonably certain basis for granting an appropriate remedy, a sales contract is enforceable even if one or more terms are left open.  The UCC has “gap-filler” provisions that can fill in such terms as price and delivery.
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  • Spring '08
  • pts, formal methods

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