Question 1

In the absence of a time condition in an offer, the offer will expire ___________.

Accepted Answer

A)  In forty-eight hours. 
B)  In seven days. 
C)  In thirty days. 
D)  In forty-five days. 
E)  After a reasonable amount of time. 
A)  In forty-eight hours. 
B)  In seven days. 
C)  In thirty days. 
D)  In forty-five days. 
E)  After a reasonable amount of time.

Question 2

As long as some of the duties under a contract have not yet been performed, the contract is considered __________________.

Accepted Answer

A)  Executory. 
B)  Executed. 
C)  Anticipatory. 
D)  Ended. 
E)  Stopped. 
A)  Executory. 
B)  Executed. 
C)  Anticipatory. 
D)  Ended. 
E)  Stopped.

Question 3

Which of the following is true regarding when an offer may be rejected by an offeree?

Accepted Answer

A)  Regardless of how long an offeror states that an offer will be held open, once the offeree rejects it, the offer is terminated. 
B)  If the offeror states that an offer will be held open for a certain amount of time, then it is open for that length of time even if a rejection is received prior to the expiration of that time. 
C)  An offer must remain open for at least two days before an offeree may reject it. 
D)  An offer must remain open for at least three days before an offeree may reject it. 
E)  An offer must remain open for at least four days before an offeree may reject it. 
A)  Regardless of how long an offeror states that an offer will be held open, once the offeree rejects it, the offer is terminated. 
B)  If the offeror states that an offer will be held open for a certain amount of time, then it is open for that length of time even if a rejection is received prior to the expiration of that time. 
C)  An offer must remain open for at least two days before an offeree may reject it. 
D)  An offer must remain open for at least three days before an offeree may reject it. 
E)  An offer must remain open for at least four days before an offeree may reject it.

Question 4

Which of the following are examples of people who do not have the capacity to enter into legally binding contracts?

Accepted Answer

A)  Those under the age of majority. 
B)  People suffering from mental illness. 
C)  Intoxicated persons. 
D)  People under the age of majority and people suffering from mental illness, but not intoxicated persons. 
E)  People under the age of majority, people suffering from mental illness, and intoxicated persons. 
A)  Those under the age of majority. 
B)  People suffering from mental illness. 
C)  Intoxicated persons. 
D)  People under the age of majority and people suffering from mental illness, but not intoxicated persons. 
E)  People under the age of majority, people suffering from mental illness, and intoxicated persons.

In the absence of a time condition in an offer, the offer will expire ___________.

As long as some of the duties under a contract have not yet been performed, the contract is considered __________________.

Which of the following is true regarding when an offer may be rejected by an offeree?

Which of the following are examples of people who do not have the capacity to enter into legally binding contracts?

An Introduction to the Fundamentals of Dynamic Business Law

Business Ethics and Social Responsibility

The Us Legal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Contracts in Writing and Third-Party Contracts

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

Filters

Exam 8: Real, Personal, and Intellectual Property

In the absence of a time condition in an offer, the offer will expire ___________.

As long as some of the duties under a contract have not yet been performed, the contract is considered __________________.

Which of the following is true regarding when an offer may be rejected by an offeree?

Which of the following are examples of people who do not have the capacity to enter into legally binding contracts?

An Introduction to the Fundamentals of Dynamic Business Law

Business Ethics and Social Responsibility

The Us Legal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Contracts in Writing and Third-Party Contracts

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

Filters