Exam 10: Mutual Assent

Lynn offers to sell his house to Dennis for $95,000. Dennis responds, "I will pay you $95,000 if you will paint the second floor." This response could best be described as:

An implied contract is not an enforceable contract.

Gail sent a letter of acceptance to an offer that has expired. Gail has made:

Albert read Gem City's ad in the local newspaper advertising a one-quarter carat diamond ring for $89. Albert rushed to the store to buy the ring, only to be told by the salesperson that the ad was a misprint and the price should have been $289. Albert gave the salesperson $89 plus sales tax and demanded the ring. In this case:

Chad has offered to take Miles into his accounting firm as a partner upon payment of $5,000 cash. In response, Miles says, "I'll give you $3,000 cash now and I will pay you the remainder in two months after I see whether things are working out as a partnership." In this case:

Elmer wrote a letter to his friend Fred offering to sell Fred an 80-acre farm for $200,000. After mailing the letter, Elmer learns that the farm is actually worth $300,000 and changes his mind about selling. Elmer:

Destruction of the subject matter has what effect on the offer?

Shirley hears about a reward being offered by the local television station for information leading to the arrest and conviction of a local rapist. She supplies the requested information, and the suspect is then arrested and convicted. In this case:

Jack has been in the business of selling carpeting for 20 years. He calls Barb, who is opening another branch of her furniture stores, and offers to sell her 100 yards of carpet at $12 per square yard. Barb agrees and sends back the following letter confirming the deal: Dear Jack: As we discussed on the phone January 3, we accept your offer of 100 yards of Saxony "heather blue" carpeting at the price of $12 per square yard. We also reserve the right to purchase any additional yardage we need to carpet our other showroom facilities at the same rate for one year from that date. Very truly yours, Barb Which of the following is true?

The person to whom an offer is made is an offeree.

Maxine offered to sell her video camera to Tom for $200 and also stated to Tom, "I will give you two weeks to accept my offer." One week later Tom learned that Maxine had sold the video camera to Cindy. Maxine:

Michelle's Boutique places an ad in the Sunday paper for beautiful, top-of-the-line designer suits for $3.00 each. Irene sees the ad in the paper and goes to the store to stock up on business suits for her new job. Michelle apologizes for the misprint. Irene has just finished a class in contract law and insists that the store sell her five suits for $15.00. Irene threatens to sue Michelle for breach of contract. In this case:

Silence can never be an acceptance.

An offer is effective as soon as it is dispatched.

The way parties usually show mutual assent is by:

Under the common law, the must be the mirror image of the .

If a promisor intends her promise as a joke, whether or not the promisee as a reasonable person should understand it to be such, the promise is not an offer.

An auctioneer is free to withdraw the goods from sale if the sale is advertised or announced in explicit terms to be without reserve.

The UCC Battle of the Forms rule:

If no time is specified for the acceptance of an offer, the offer terminates after: