Exam 8: Offer, Acceptance, and Mutual Assent

Brett offers to dust and vacuum all the rooms in Arlene's apartment for $45. Arlene says she will accept his offer if he lowers his fee to $40. According to the common law of contracts, Arlene has:

In a(n) ____________ contract, one party consents to sell to a second party all of the goods that party makes in a given period of time.

A newspaper advertisement addressed to "Ohio residents only" would be a private offer.

Anthony offers to sell a computer to Salvador for $900 if Salvador replies by e-mail only, sent no later than noon on Saturday. On Saturday, Salvador is unable to access his e-mail, so he mails an acceptance at the post office before noon. Which of the following is true of the situation?

Omar offers to sell a motorcycle to Adanne for $10,000. Adanne replies, "I will pay $10,000 if you overhaul the engine." Adanne's reply conforms to the mirror image rule's requirements.

According to the UCC, a contract for the sale of goods comes into existence when any reasonable means under the circumstances is used to communicate the acceptance.

Acorn Outfitters advertises a large tent, usually selling for $250, to be sold to the first customer the next morning for $25. Samuel is the first in line, but Acorn claims that the tent has already been sold. Acorn has engaged in a bait-and-switch confidence game.

Jose agrees to sell his car to Diego for $5,000 if he is accepted to Harvard Medical School. This contract is:

The Uniform Computer Information Transactions Act (UCITA) covers diverse areas, such as database contracts and software licensing agreements.

An option contract:

When dealing face-to-face, an acceptance becomes complete as soon as the offeree freely communicates words of acceptance to the offeror.

Joseph offered to sell Chelsea his electric bicycle for $650. Chelsea told Joseph she would be happy to buy his bicycle, and asked if the price included an extra tire. Joseph said there was no extra tire. Chelsea then agreed to pay $650 for the bicycle, but Joseph refused to sell stating that he now wanted $750 for the bicycle and that Chelsea had made a counteroffer when she mentioned an extra tire. Discuss whether or not Joseph may insist on receiving $750 for the bicycle.

An option contract holds an offer open for an agreed period of time.

A mistake by only one of the parties is called a ____________ and ____________ offer sufficient grounds for rescission or renegotiation.

Shelly was involved in an auto accident and was admitted to the local hospital, as she had suffered severe injuries. She informed the hospital staff that she was covered under accident insurance, and that the insurance company would pay for the medical bills. When the insurance agent arrives, he informs her that the insurance will cover every cost and that all she has to do is sign some papers for the insurance company to start the procedures. The papers that Shelly signs are actually an agreement that the insurance company will pay only 30 percent of the medical bills, since Shelly was driving recklessly. Analyze the case.

Girard University offered Steamer Ferris a professional position. Girard offered to provide Steamer a house and to pay him an annual salary of $50,000 plus benefits for teaching three classes per semester. Steamer agreed to the contract as long as Girard would also provide an administrative position for his wife. Discuss the agreements between the parties.

When forming online contracts, ____________ is a cyber-technique that preserves electronic data of offer and acceptance without using local hard drives and flash drives.

Hazel offers to sell her home to Mandisa for "about $100,000 plus closing costs." Mandisa accepts Hazel's offer, but a dispute arises concerning the precise dollar amount of the purchase price. How will a court resolve this dispute?

During a lunch with Russell, Josephine offers to sell Russell her car for $5,000. Russell rejects her offer during the lunch, but the next day, before Josephine has taken any additional action, Russell calls her to say, "I've changed my mind, I'll take the car." An effective contract has been formed, and Josephine must sell Russell her car for $5,000.

An e-contract must have additional consideration to be as valid as a paper contract.