Chapter 11
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What is an offer? | is a promise conditional on an act, return promise, or forbearance (refraining from doing something)
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| The Requirement of an offer? | Parties to a contract must have intent to enter binding agreement, terms must be definite, and the offer must be communicated to the offeree
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| Name 5 things that do not qualify as an offer | Invitation to bargain
Price quote
House Sale
An advertisement
A letter of intent may or may not be an offer, depending on the writer’s intent.
Placing an item up for auction is not an offer, it is merely a request for an offer.
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| True or False: Courts apply the subjective theory of contracts when determining whether intent to contract existed | Courts apply the objective theory of contracts based on the reasonable person.
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| True or False: The UCC often creates contractual liability where no contract would result under common law | T Article 2 sales contracts can be created “in any manner sufficient to show agreement, including conduct…” A price, quantity, delivery, and time for payment term left open in a contract can be filled in.
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| True or False: Sales puffery may be deemed to be a valid offer | False. Sales puffery is NOT an offer.
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| True or False: UCC 2–207 does not allow contract formation if there is some variance between terms of offer and terms of the acceptance | False. UCC 2–207 allows contract formation even when there is some variance between terms of offer and terms of the acceptance
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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