Acme co offers to buy 1000 widgets from widget world

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Quiz 4 Ch. 11-13

Acme Co offers to buy 1000 widgets from Widget World Co The written offer from MAR 2011 at St. Petersburg College

Question 4   1 / 1 point Collector Carl displays his beer can collection at the local swap meet . Mary sees the collection and is interested in buying it . Carl says he will sell the collection for $ 1,500 . Mary says she really likes the collection but is only willing to pay $ 1,000 . Which of the following is correct ?
 Mary 's counteroffer terminates Carl 's offer of $ 1,500 .
 If Carl rejects Mary 's counteroffer , she can still accept Carl 's offer of $ 1,500 .
 Neither offer is valid . Who would ever pay $ 1,000 or $ 1,500 for a beer can collection ?
 Mary 's offer is a firm offer . Carl has an exclusive right to consider her offer for a reasonable period of time .
Question 5   1 / 1 point Dick offers to sell Jane his 1955 Thunderbird convertible . Before Jane can accept the offer , lightning strikes the car and it is totally destroyed . Which of the following is true ?
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Question 7   1 / 1 point In January , Alex promised to pay Y - K Inc. $ 5,000 if it would refrain from filing suit against him on a breach of contract action . Y - K agreed and accepted a $ 5,000 check from Alex . Which of the following statements is correct ?
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Question 8   1 / 1 point A promise by Derkin Restaurants to buy all of the produce it needs this next year at an established price from Elfredo 's Produce would be an :
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Question 10   1 / 1 point If Crosby and Dash enter into negotiations for Dash to purchase an automobile from Crosby and Crosby says he 'll take $ 5,000.00 , and Dash does n't say he accepts or rejects the offer but brings a check for $ 4,500.00 and Crosby accepts and cashes the check , what has happened ?
 Crosby rejected the initial offer . Dash accepted the initial offer Nothing happened , the initial offer is still on the table . Dash counter - offered and Crosby accepted it .
Question 61 / 1 point
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?
Question 71 / 1 pointIn January, Alex promised to pay Y-K Inc. $5,000 if it would refrain from filing suit against him on a breach of contract action. Y-K agreed and accepted a $5,000 check from Alex. Which of the following statements is correct?

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