BLAW 5400 CH 10 Quiz || with 100% Error-free Answers.
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Course
BLAW 5400
Institution
BLAW 5400
A contract requires which of the following?
A. an offer and a counteroffer
B. an offer and an acceptance
C. a promise for an act
D. equal consideration
E. a promise for a promise correct answers an offer and an acceptance
Amy Jones, the CEO of Amy Corporation, wants to sell an industrial ...
BLAW 5400 CH 10 Quiz || with 100% Error-free Answers.
A contract requires which of the following?
A. an offer and a counteroffer
B. an offer and an acceptance
C. a promise for an act
D. equal consideration
E. a promise for a promise correct answers an offer and an acceptance
Amy Jones, the CEO of Amy Corporation, wants to sell an industrial plant to Baker Corporation.
She puts the offer in writing, but she does not send it to the Baker Corporation. Anastasia
Anderson, the CFO of Anderson Corporation, visits Ms. Jones on another matter and sees the
written offer lying on Jones' desk. Anastasia then sends an acceptance letter to Ms. Jones. This
acceptance is ________. correct answers invalid because the offer was never communication to
Anderson Corporation
To be considered definite, an offer (and contract) generally must contain which of the following
terms?
A. (1) identification of the parties, (2) identification of the subject matter and quantity, (3)
consideration to be paid, and (4) place of performance
B. (1) identification of the parties, (2) identification of the subject matter and quantity, and (3)
consideration to be paid
C. (1) identification of the parties, (2) identification of the subject matter and quantity, (3)
consideration to be paid, and (4) time of performance
D. (1) identification of the parties, (2) identification of the subject matter and quantity, and (3)
time of performance
E. (1) identification of the parties, (2) identification of the subject matter, (3) consideration to be
paid, and (4) time of performance correct answers (1) identification of the parties, (2)
identification of the subject matter and quantity, (3) consideration to be paid, and (4) time of
performance
A(n) _____ term in a contract is one that can reasonably be supplied by the courts. correct
answers implied
Jenni Harrington's dog, Sammy, runs away and Jenni is heartbroken. She places posters around
the neighborhood stating "$100 reward for return of Sammy to my home. Call 212-555-6789."
Rob Borden, who is unaware of the offer, finds the dog. He reads the tag containing Harrington's
name, address, and telephone number, and brings Sammy to Jenni's home. Must Jenni pay the
reward to Rob? correct answers No, Rob was unaware of the reward
In a(n) _____, the seller expressly gives up his or her right to withdraw the goods from sale and
must accept the highest bid. correct answers auction without reserve
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