Exam 6: The Elements of a Contract: Consensus and Consideration

If an offeror makes an offer that states, "This offer to be open until noon tomorrow," which of the following does not, in law, end the offer?

Why is the case of Dickinson v. Dodds important?

If you pay $1000 for a 90-day option on property offered to you at $200,000, which of the following is true?

Mr. Goode, a neighbour of your parents, offered to sell you his house for $400,000, a bit below market value. You are definitely interested but would like to see if your employment contract will be renewed and want to check about financing. Mr. Goode says that he'll hold the offer open for you until May 1st. On these facts, which of the following is false?

Joe drove his car into Sam's garage to have some repair work done. He told Sam to fix the carburetor. Sam worked on it most of the afternoon and found he had to rebuild the carburetor. He presented Joe with a bill for $250 when he returned. Joe refused to pay, saying that he had taken a law course and knew that, because they didn't agree to a specific consideration ahead of time, he was not bound in contract. Was he correct? Explain.

Which of the following is false with regard to contract law?

The objective, in Canada, of the Uniform Electronic Commerce Act (UECA) is primarily

A one-sided promise the courts will not enforce is known as ________.

Hitting the "I Accept" button on a website is equivalent to an acceptance of the seller's offer.

Why is an understanding of contract law important for a business person?

Which one of the following will not end an offer?

An employer's promise to pay a bonus in recognition of good work already performed by the employee would be binding.

Joe offered to sell Harry his car for $500, but Harry said he needed some time to think about it. A couple of days later, Harry phoned back saying that he'd give Joe $450 for the car. Joe refused to take this. Then Harry said, "All right, I'll accept your offer for $500." Joe said that he'd changed his mind and refused to go through with the deal. Harry sued. Explain Joe's legal liability.

Mary received an unsolicited selection of CDs in the mail with a letter informing her that she was now a member of the CD of the Month Club. It also said that if she didn't want these CDs, she could simply send them back. Otherwise, she would be billed $10 for each CD at the end of the month. She simply put them away, and did not respond. They continued to send her more CDs each month until she had received 100 of them over a period of 10 months. The club then sent her a letter demanding payment or they would take legal action. Explain her legal obligation in these circumstances.

A purchaser issues a request to get the best possible price on a required product or service. This is referred to as a tendered bid. The Supreme Court of Canada has decided that in some circumstances such tendered bids:

What are the ways in which an offer can come to an end prior to acceptance?

"One of the basic precepts in contract law is that any bargain struck must be fair to be enforceable." Explain the accuracy of that statement.

Which of the following is not correct with respect to the adequacy of consideration?

When the postbox rule applies, the place of mailing of the acceptance may determine the place of the contract.

If a business promises to pay all of its employees $500 to quit smoking, such an arrangement is a(n)