FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 12: Formation of Traditional and E Contracts

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 21

Multiple Choice

Review LaterAdd Note

Review Later

Key promises to pay Liv, his niece, $5,000 if she obtains her degree at Metro College, where she is in her third year. Liv graduates. Key must pay because

A) Liv was already enrolled at Metro.
B) obtaining a degree benefits Liv.
C) a job can be hard to find after college.
D) Liv obtained a degree at Metro.

E) A) and D)
F) A) and C)

Correct Answer

verified

Show Answer

Question 22

Multiple Choice

Review LaterAdd Note

Review Later

Pastries Inc. sends Rollo its catalogue showcasing a variety of baked goods for certain prices. This is

A) an offer.
B) an invitation to negotiate, not an offer.
C) an ad, not an offer.
D) a request, not an offer.

E) All of the above
F) None of the above

Correct Answer

verified

Show Answer

Question 23

Multiple Choice

Review LaterAdd Note

Rena asks Sully, "Do you want to pay me to repair your forklift?" This is

An agreement to agree to the material terms of a contract at some future date may be enforceable.

Any contract involving consumer goods must be in writing to be enforceable.

The primary purpose of the Uniform Electronic Transactions Act is to create new rules for electronic contracts.

Consideration must provide the basis for the bargain struck between contracting parties.

Shep offers to make digital copies of Reliable Company's business conference videotapes, CDs, DVDs, and other media for $500. Under the mailbox rule, Reliable's acceptance by e-mail will be considered effective when

To control specific offers for goods or services and thus the resulting contracts, important terms to provide online include

Hometown Bank posts on its website an offer of a reward for information leading to the apprehension of a certain criminal. This offer could normally be terminated by

A bank's sale of its right to receive payment on a loan to a third party is a transfer but not an assignment.

Two parties can mutually agree to rescind a contract only to the extent that it has been executed-otherwise, there is nothing to rescind.

Laz is a friend of Maya, the owner of Nuevo Dias, a coffee kiosk. Every day, Laz spends five minutes at the kiosk, looking at the goods and usually buying a cinnamon bun or a bagel. One morning, Laz looks at the items, and picks up a one-dollar donut. He waves the donut at Maya without saying a word and walks on. Is there a contract? If so, how would it be classified in terms of formation, performance, and enforceability?

One of the requirements of a valid contract is an adequate market for the deal's goods or services.

Because so much e-commerce involves parties in the United States, the preeminence of U.S. law in this area is not likely to be challenged in the future.

Ocean Inc., a seafood distributor, agrees to buy from Pai, a commercial fisher, any "overstock" of fish that he catches in excess of the legal limit. This agreement is most likely

Like other types of law, contract law is distinct from our social values, interests, and expectations at any given point in time.

Seb is mentally incompetent but has not been adjudged by a court to be incompetent. Seb enters into a contract with Toby for the sale of Seb's warehouse. Most likely, the contract is

Red offers to pay Sari to deliver certain documents within thirty minutes. Sari can accept the offer only by completing the task within the deadline. If she does, Red and Sari will have

A promise to do something that one has no prior legal duty to do is not legally sufficient consideration.