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Exam 12: Agreement

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Question 21

Multiple Choice

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Olen decides to sell his ranch, Pine Valley, in a live auction. When the auctioneer puts the property up for bids, it will be

A) an offer.
B) an invitation to submit offers, not an offer itself.
C) a statement of future intent, not an offer.
D) a price list, not an offer.

E) A) and C)
F) All of the above

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Question 22

Multiple Choice

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On May 1 Meat Company offers to cure and smoke Natural Farm's products, and promises to keep the offer open until June 1. On May 3 Meat mails Natural a letter revoking the offer. The farm receives the letter on May 5 and responds on May 6. The company's revocation of the offer became effective on

A) May 3.
B) May 5.
C) May 6.
D) no date because the offer is irrevocable.

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

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Question 23

Multiple Choice

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Larry advertises a reward for the return of his lost dog. Miguel does not learn of the reward, but finds and returns the dog. With respect to Miguel, Larry's ad is not an offer because it lacks the element of

Shipping Corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce. Between Shipping and its customers, the UETA applies if the parties agree to conduct transactions by

Fabien offers to sell his Graphic Signs LLC business to Hanna for $100,000. Hanna replies, "The price is too high. I will buy it for $75,000." Hanna has

Business Software Corporation (BSC)sells business apps-wage, price, and inventory coordinating programs, for example-in different combinations and packages, at different prices, downloadable online. To complete a deal, a purchaser clicks on a button that, with reference to certain terms, states, "I agree." What is this agreement called? Do the parties have a binding, enforceable contract that includes the terms? Explain.

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

Brie buys a subscription to music provided by Concerto, an online streaming service. Before gaining access, Brie must agree to a provision stating that she will not make and sell copies of the music. This provision is

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

Rico, an auctioneer, puts a semi-truck and trailer up for auction. Rico is

An agreement exists when one party offers a certain bargain to another party.

If the offeror does not expressly specify a certain mode of acceptance, then acceptance can be made by any means, whether or not it is "reasonable."

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

Posting an item for sale on an online auction site is an offer to form a contract.

Global Dispatch Corporation and Heavy Hauling Inc. agree in advance to terms that apply to their future e-transactions. This is

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

Glen offers to sell Helen his iPad for $200. Under the mirror image rule, Helen's response will be considered an acceptance if the terms of the acceptance

Rejection of an offer is effective only when it is actually received.

Kelly offers to sell a certain used forklift to Lumber Outlet, but Kelly dies before Lumber Outlet accepts. Most likely, Kelly's death

Anton tells Brooke, who has no knowledge of Shakespearean comedy, that he will tutor her in the subject for $50. As an offer, this is