56 tf under a bilateral contract there is no contract

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The Legal Environment of Business: Text and Cases
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Chapter 25 / Exercise 25-7
The Legal Environment of Business: Text and Cases
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56.T/F: Under a bilateral contract, there is no contract until the offeree performs the requested act.57.T/F: Valid contracts can be written or oral.58.T/F: Void contracts are seemingly valid contracts that one party has the
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The Legal Environment of Business: Text and Cases
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Chapter 25 / Exercise 25-7
The Legal Environment of Business: Text and Cases
Cross/Miller
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right to declare void.59.T/F: When a party successfully sues for an equitable remedy for a breach of contract, that party does not receive a monetary award.60.T/F: When a Pennsylvania appellate court makes a decision, stare decisis requires that Delaware trial courts follow the case precedent when a casewith a similar fact situation arises.61.To be valid, offers must meet all of the following criteria except: communicated, clear, reasonable, serious62.The trial court in New York has heard a case and issued a decision. This decision:63.What is rarely awarded in contract cases?64.Which of the following courts renders decisions binding only on the parties involved in the dispute?65.Which of the following is not a component that needs to be shown to authorize use of a long-arm statute?66.Which of the following is not required in order to show standing to assert a claim?67.Which of the following will not create minimum contacts in a state sufficient to find personal jurisdiction on an out-of-state defendant?68.With regard to federal question jurisdiction:69.xBradley collects historic memorabilia, and one of his prized possessionsis the pistol used by Aaron Burr in his duel with Alexander Hamilton. After reading an article in a magazine, Bradley discovers that Sam owns the matching pistol, used by Hamilton in the duel. Bradley contacts Sam and offers him $500,000 for the pistol. Sam e-mails Bradley that he accepts his offer but that the transaction must be for cash and face-to-face. Bradley responds that he'll be at Sam's home at noon the next day with the money. When he arrives, Sam informs him that he's received an offer of $600,000 for the pistol and states that Bradley must pay that amount or he'll sell to the other buyer. Bradley wants the weapon to complete the set. If he sues Sam, what course of action will best providehim the results he desires?(p. 18) For private law to be applied, there must be a statute or ordinance enacted that provides for the rights of the parties.  (p. 18) Criminal law can also be characterized as public law but can never be considered 
private law. (p. 18) Freedom of Speech, as defined in the Constitution, is an example of substantive law. (p. 16) Restatements of the law are written and revised by the Congress and state legislatures as needed. (p. 9) All statutes have a statutory scheme but not all statutes have a legislative history.  (p. 10) The common law is the law that all states follow to avoid confusion and to promote consistency from state to state. (p. 11) Civil law systems reject and prohibit the use of precedent, relying solely on strict interpretations of statutes.  (p. 13) When a Pennsylvania appellate court makes a decision, stare decisis requires that Delaware trial courts follow the case precedent when a case with a similar fact situation arises. (p. 20)

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