Question 1

An offeror must always have

Accepted Answer

A)  negotiations.
B)  intent.
C)  communications.
D)  objectivity.E) B) and C)
F) A) and B)

Question 2

An offeror communicates which of the following? ​

Accepted Answer

A)  Acceptance
B)  Offer
C)  The contract
D)  The rejectionE) A) and C)
F) B) and D)

Question 3

An acceptance can only be communicated in writing.

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following is a method of terminating an offer? ​

Accepted Answer

A)  Rejection
B)  Death
C)  Counteroffer
D)  All of the aboveE) A) and D)
F) C) and D)

Question 5

A solicitation is always which of the following?

Accepted Answer

A)  An offer
B)  A bait and switch
C)  None of the above
D)  All of the aboveE) B) and C)
F) C) and D)

Question 6

A deviation from the mirror image rule creates a(n) ​

Accepted Answer

A)  rejection.
B)  acceptance.
C)  contract.
D)  counteroffer.E) C) and D)
F) All of the above

Question 7

To be definite, an offer must include, at least

Accepted Answer

A)  the price.
B)  subject matter.
C)  the parties.
D)  all of the above.E) C) and D)
F) All of the above

Question 8

An acceptance may be which of the following? ​

Accepted Answer

A)  Written
B)  Oral
C)  Implied
D)  All of the aboveE) A) and B)
F) A) and C)

Question 9

The mailbox rule cannot be circumvented by the parties to a contract.

Accepted Answer

A) True 
 B)False  False

Question 10

An acceptance is the response by the offeree to the offeror.

Accepted Answer

A) True 
 B)False

Question 11

Match between columns
                        Premises: Withdrawal of an offer by the offeror. 
A communication by the offeror to the offeree of an intent to be bound to a contract. 
Response by the offeree to the offeror of an intent to be bound to a contract. 
An invitation to negotiate. 
An offer communicated in the mail to the offeree when the acceptance is effective upon receipt. 
Consideration paid for an irrevocable offer. 
Sets limitations on an acceptance. 
An offer and acceptance must be exact. 
A new offer. 
Offeree's nonacceptance of an offer.

Accepted Answer

The Answer of offer and acceptance and mailbox rule and is...

Question 12

An option contract creates a(n) ​

Accepted Answer

A)  irrevocable offer.
B)  contract.
C)  proposal.
D)  none of the above.E) A) and D)
F) None of the above

Question 13

Under the mailbox rule, the acceptance is effective upon ​

Accepted Answer

A)  notice.
B)  communication.
C)  receipt.
D)  return.E) C) and D)
F) B) and D)

Question 14

Death of the offeror terminates the offer.

Accepted Answer

A) True 
 B)False

Question 15

The terms of an offer must always be definite.

Accepted Answer

A) True 
 B)False  True

Question 16

An acceptance cannot be terminated if an option is created.

Accepted Answer

A) True 
 B)False

Question 17

An offer is a communication by the offeree to the offeror.

Accepted Answer

A) True 
 B)False

Question 18

A preliminary negotiation always creates an offer.

Accepted Answer

A) True 
 B)False

Question 19

Contracts cannot be terminated by operation of law.

Accepted Answer

A) True 
 B)False

Question 20

An offer must always be which of the following?

Accepted Answer

A)  Formal
B)  Communicated
C)  In writing
D)  None of the aboveE) B) and C)
F) A) and B)

Exam 3: Formation of a Contraction: Offer and Acceptance

An offeror must always have

Correct Answer
verified

An offeror communicates which of the following?

Correct Answer
verified

An acceptance can only be communicated in writing.

Correct Answer
verified
False

Which of the following is a method of terminating an offer?

Correct Answer
verified

A solicitation is always which of the following?

Correct Answer
verified

A deviation from the mirror image rule creates a(n)

Correct Answer
verified

To be definite, an offer must include, at least

Correct Answer
verified

An acceptance may be which of the following?

Correct Answer
verified

The mailbox rule cannot be circumvented by the parties to a contract.

Correct Answer
verified
False

An acceptance is the response by the offeree to the offeror.

Correct Answer
verified

Matching:

An option contract creates a(n)

Correct Answer
verified

Under the mailbox rule, the acceptance is effective upon

Correct Answer
verified

Death of the offeror terminates the offer.

Correct Answer
verified

The terms of an offer must always be definite.

Correct Answer
verified
True

An acceptance cannot be terminated if an option is created.

Correct Answer
verified

An offer is a communication by the offeree to the offeror.

Correct Answer
verified

A preliminary negotiation always creates an offer.

Correct Answer
verified

Contracts cannot be terminated by operation of law.

Correct Answer
verified

An offer must always be which of the following?

Correct Answer
verified

Exam 3: Formation of a Contraction: Offer and Acceptance

An offeror must always have

Correct AnswerverifiedShow Answer

An offeror communicates which of the following? ​

Correct AnswerverifiedShow Answer

An acceptance can only be communicated in writing.

Correct AnswerverifiedFalse

Which of the following is a method of terminating an offer? ​

Correct AnswerverifiedShow Answer

A solicitation is always which of the following?

Correct AnswerverifiedShow Answer

A deviation from the mirror image rule creates a(n) ​

Correct AnswerverifiedShow Answer

To be definite, an offer must include, at least

Correct AnswerverifiedShow Answer

An acceptance may be which of the following? ​

Correct AnswerverifiedShow Answer

The mailbox rule cannot be circumvented by the parties to a contract.

Correct AnswerverifiedFalse

An acceptance is the response by the offeree to the offeror.

Correct AnswerverifiedShow Answer

Matching:

An option contract creates a(n) ​

Correct AnswerverifiedShow Answer

Under the mailbox rule, the acceptance is effective upon ​

Correct AnswerverifiedShow Answer

Death of the offeror terminates the offer.

Correct AnswerverifiedShow Answer

The terms of an offer must always be definite.

Correct AnswerverifiedTrue

An acceptance cannot be terminated if an option is created.

Correct AnswerverifiedShow Answer

An offer is a communication by the offeree to the offeror.

Correct AnswerverifiedShow Answer

A preliminary negotiation always creates an offer.

Correct AnswerverifiedShow Answer

Contracts cannot be terminated by operation of law.

Correct AnswerverifiedShow Answer

An offer must always be which of the following?

Correct AnswerverifiedShow Answer

Correct Answer
verified

An offeror communicates which of the following?

Correct Answer
verified

Correct Answer
verified
False

Which of the following is a method of terminating an offer?

Correct Answer
verified

Correct Answer
verified

A deviation from the mirror image rule creates a(n)

Correct Answer
verified

Correct Answer
verified

An acceptance may be which of the following?

Correct Answer
verified

Correct Answer
verified
False

Correct Answer
verified

An option contract creates a(n)

Correct Answer
verified

Under the mailbox rule, the acceptance is effective upon

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
True

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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