Question 1

Advertisements for the sale of goods at a specified price are considered by the courts as:

Accepted Answer

A)  giving everyone who sees the ad the power to bind into a contract. 
B)  acceptance of an offer. 
C)  an unfair offer. 
D)  invitations to negotiate. 
A)  giving everyone who sees the ad the power to bind into a contract. 
B)  acceptance of an offer. 
C)  an unfair offer. 
D)  invitations to negotiate.

Question 2

What is a firm offer?

Accepted Answer

For an offer to sell goods to be a firm

Question 3

Discuss what constitutes an offer and an acceptance at auction sales.

Accepted Answer

Sellers at auctions are generally held t

Question 4

How do courts deal with the situation in which an offeror tries to revoke an offer for a unilateral contract after the offeree has begun acceptance, but he has not completely accepted the offer?

Accepted Answer

If the offeree intends to accept an offe

Question 5

To avoid problems from the revocation of offers for unilateral contracts, many courts hold a contract to be bilateral:

Accepted Answer

A)  only as a last possible resort. 
B)  whenever possible. 
C)  in a different view taken by the Restatement. 
D)  on a compulsory basis. 
A)  only as a last possible resort. 
B)  whenever possible. 
C)  in a different view taken by the Restatement. 
D)  on a compulsory basis.

Question 6

According to the United Nations Convention on Contracts for the International Sale of Goods (CISG), an offer:

Accepted Answer

A)  must be directed to a specific person. 
B)  must express the quality of the goods to be valid. 
C)  is not valid, if it impliedly provides means of determining the quantity of the goods. 
D)  is sufficiently definite even if it lacks price terms. 
A)  must be directed to a specific person. 
B)  must express the quality of the goods to be valid. 
C)  is not valid, if it impliedly provides means of determining the quantity of the goods. 
D)  is sufficiently definite even if it lacks price terms.

Question 7

With regard to rejection of an offer, which of the following statements is correct?

Accepted Answer

A)  An offer is not terminated when it is rejected by the offeree. 
B)  A rejection must be actually received by the offeree to be effective. 
C)  A counteroffer constitutes an express rejection of an offer. 
D)  The offeree's statement that he will not accept the offer is an implied rejection of the offer. 
A)  An offer is not terminated when it is rejected by the offeree. 
B)  A rejection must be actually received by the offeree to be effective. 
C)  A counteroffer constitutes an express rejection of an offer. 
D)  The offeree's statement that he will not accept the offer is an implied rejection of the offer.

Question 8

Which of the following is true about auctions?

Accepted Answer

A)  Acceptance occurs when an offeror makes the highest bid. 
B)  Bidders are treated as offerors, making offers the seller is free to accept or reject. 
C)  An item cannot be withdrawn from sale prior to acceptance. 
D)  The seller is required to accept the final offer when the auction is advertised as being "with reserve." 
A)  Acceptance occurs when an offeror makes the highest bid. 
B)  Bidders are treated as offerors, making offers the seller is free to accept or reject. 
C)  An item cannot be withdrawn from sale prior to acceptance. 
D)  The seller is required to accept the final offer when the auction is advertised as being "with reserve."

Question 9

An offer is the manifestation of a willingness to enter into a contract if the other person agrees to the terms.

Accepted Answer

A) True 
 B)False

Question 10

When parties fail to expressly agree on the terms of a sales contract,

Accepted Answer

A)  the contract is automatically void. 
B)  the contract will fail if the court finds that the parties are acting as though they have a contract and it is impossible to point to a particular moment in time when the contract was created. 
C)  the contract will not be enforceable under the Uniform Commercial Code (UC
C) . 
D)  the contract will not fail if the court finds that the parties intended to make a contract and that their agreement is complete enough to allow the court to reach a fair settlement of their dispute. 
A)  the contract is automatically void. 
B)  the contract will fail if the court finds that the parties are acting as though they have a contract and it is impossible to point to a particular moment in time when the contract was created. 
C)  the contract will not be enforceable under the Uniform Commercial Code (UC
C) . 
D)  the contract will not fail if the court finds that the parties intended to make a contract and that their agreement is complete enough to allow the court to reach a fair settlement of their dispute.

Exam 10: Creating a Contract: Offers

Advertisements for the sale of goods at a specified price are considered by the courts as:

What is a firm offer?

Discuss what constitutes an offer and an acceptance at auction sales.

How do courts deal with the situation in which an offeror tries to revoke an offer for a unilateral contract after the offeree has begun acceptance, but he has not completely accepted the offer?

To avoid problems from the revocation of offers for unilateral contracts, many courts hold a contract to be bilateral:

According to the United Nations Convention on Contracts for the International Sale of Goods (CISG), an offer:

With regard to rejection of an offer, which of the following statements is correct?

Which of the following is true about auctions?

An offer is the manifestation of a willingness to enter into a contract if the other person agrees to the terms.

When parties fail to expressly agree on the terms of a sales contract,

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