Question 1

An offeree who makes an inquiry about the terms of the offer has made a counteroffer,and has terminated the offer by rejecting it.

Accepted Answer

A) True 
 B)False

Question 2

The courts have generally held that ads for the sale of goods at a specified price are treated as invitations to negotiate or to make an offer.

Accepted Answer

A) True 
 B)False

Question 3

The doctrine of promissory estoppel does not require:

Accepted Answer

A) a promise. 
B) a significant reliance on a promise. 
C) an injustice as a result of reliance. 
D) a consideration. 
A) a promise. 
B) a significant reliance on a promise. 
C) an injustice as a result of reliance. 
D) a consideration.

Question 4

The timing of prior dealings is relevant when determining a reasonable time for acceptance,if the parties have dealt with each other on a regular basis.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following must be present for an offer to have a legal effect?

Accepted Answer

A) Invitation to offer 
B) Communicating the intention to make an offer 
C) Invitation to negotiate 
D) Definiteness 
A) Invitation to offer 
B) Communicating the intention to make an offer 
C) Invitation to negotiate 
D) Definiteness

Question 6

In an option contract:

Accepted Answer

A) a separate contract for the limited purpose of holding the offer open is created. 
B) the offeree is bound to accept the offer. 
C) a joint contract is created for the limited purpose of keeping the offer open. 
D) the offeree has purchased the right to accept within the stated period. 
A) a separate contract for the limited purpose of holding the offer open is created. 
B) the offeree is bound to accept the offer. 
C) a joint contract is created for the limited purpose of keeping the offer open. 
D) the offeree has purchased the right to accept within the stated period.

Question 7

Advertisements for rewards,such as for the return of lost property,information,or the capture of criminals,are generally:

Accepted Answer

A) held to be invitations but not offers. 
B) held to be offers for unilateral contracts. 
C) held to be offers for bilateral contracts. 
D) held to be firm offers. 
A) held to be invitations but not offers. 
B) held to be offers for unilateral contracts. 
C) held to be offers for bilateral contracts. 
D) held to be firm offers.

Question 8

In a bidding process the owner of the project or a general contractor who wants to farm out a portion of a large job to a subcontractor are generally held to have made an invitation to offer.

Accepted Answer

A) True 
 B)False

Question 9

Advertisements are regulated outside of contract law by:

Accepted Answer

A) the UCC. 
B) the Restatement. 
C) the Federal Trade Commission. 
D) the CISG. 
A) the UCC. 
B) the Restatement. 
C) the Federal Trade Commission. 
D) the CISG.

Question 10

Which of the following statements about offers is true?

Accepted Answer

A) Any definite offer made by a merchant is a "firm offer" under the UCC. 
B) An offer is effective upon dispatch. 
C) A grumbling acceptance is a rejection and terminates the offer. 
D) The death of the offeror will terminate the offer immediately. 
A) Any definite offer made by a merchant is a "firm offer" under the UCC. 
B) An offer is effective upon dispatch. 
C) A grumbling acceptance is a rejection and terminates the offer. 
D) The death of the offeror will terminate the offer immediately.

Exam 10: Creating a Contract: Offers

An offeree who makes an inquiry about the terms of the offer has made a counteroffer,and has terminated the offer by rejecting it.

The courts have generally held that ads for the sale of goods at a specified price are treated as invitations to negotiate or to make an offer.

The doctrine of promissory estoppel does not require:

The timing of prior dealings is relevant when determining a reasonable time for acceptance,if the parties have dealt with each other on a regular basis.

Which of the following must be present for an offer to have a legal effect?

In an option contract:

Advertisements for rewards,such as for the return of lost property,information,or the capture of criminals,are generally:

In a bidding process the owner of the project or a general contractor who wants to farm out a portion of a large job to a subcontractor are generally held to have made an invitation to offer.

Advertisements are regulated outside of contract law by:

Which of the following statements about offers is true?

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