Question 1

Corner Store 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

Accepted Answer

A)   a post on the website.
B)   a notice in the local newspaper.
C)   a sign in the brick and mortar store.
D)   a sign posted in a police station.E) None of the above
F) A) and C)

Question 2

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

Accepted Answer

A)   electronic means.
B)   paper documents.
C)   any of the choices.
D)   verbal communication.E) A) and D)
F) C) and D)

Question 3

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."

Accepted Answer

A) True 
 B)False

Question 4

Domestic Gas Company offers to sell Energy Ltd. a certain quantity of liquefied natural gas. If Energy sends an acceptance via Domestic's authorized mode of communication, it will be effective when it is

Accepted Answer

A)   in transit.
B)   received.
C)   sent.
D)   written.E) A) and B)
F) A) and C)

Question 5

One element necessary for an effective offer is the offeror's good faith belief in its reasonableness.

Accepted Answer

A) True 
 B)False

Question 6

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Accepted Answer

A) True 
 B)False

Question 7

Simone offers Tom a dozen piano lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer

Accepted Answer

A)   before Tom accepts it.
B)   before April 1, whether or not Tom has accepted it.
C)   only after Tom accepts it.
D)   only after April 1.E) A) and B)
F) None of the above

Question 8

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

Accepted Answer

A)   a partnering agreement.
B)   a click-on agreement.
C)   a shrink-wrap agreement.
D)   a browse-wrap term.E) A) and D)
F) None of the above

Question 9

For a court to determine if a contract has been breached and to give an appropriate remedy, the offer must include terms that are at least

Accepted Answer

A)   accurately precise.
B)   reasonably definite.
C)   unequivocally approximate.
D)   vaguely uncertain.E) All of the above
F) A) and C)

Question 10

A request to negotiate is an offer.

Accepted Answer

A) True 
 B)False

Question 11

In rare circumstances, a price list may be construed as an offer.

Accepted Answer

A) True 
 B)False

Question 12

Luke puts his motorcycle up for sale via a post on an online auction site. This is

Accepted Answer

A)   an offer.
B)   an invitation to negotiate, not an offer.
C)   a price list, not an offer.
D)   a request, not an offer.E) A) and D)
F) A) and C)

Exam 11: Agreement

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Correct Answer
verified

In rare circumstances, a price list may be construed as an offer.

Correct Answer
verified

One element necessary for an effective offer is the offeror's good faith belief in its reasonableness.

Correct Answer
verified

For a court to determine if a contract has been breached and to give an appropriate remedy, the offer must include terms that are at least

Correct Answer
verified

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

Correct Answer
verified

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."

Correct Answer
verified

Luke puts his motorcycle up for sale via a post on an online auction site. This is

Correct Answer
verified

Corner Store 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

Correct Answer
verified

A request to negotiate is an offer.

Correct Answer
verified

Domestic Gas Company offers to sell Energy Ltd. a certain quantity of liquefied natural gas. If Energy sends an acceptance via Domestic's authorized mode of communication, it will be effective when it is

Correct Answer
verified

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

Correct Answer
verified

Simone offers Tom a dozen piano lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer

Correct Answer
verified

Exam 11: Agreement

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Correct AnswerverifiedShow Answer

In rare circumstances, a price list may be construed as an offer.

Correct AnswerverifiedShow Answer

One element necessary for an effective offer is the offeror's good faith belief in its reasonableness.

Correct AnswerverifiedShow Answer

For a court to determine if a contract has been breached and to give an appropriate remedy, the offer must include terms that are at least

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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."

Correct AnswerverifiedShow Answer

Luke puts his motorcycle up for sale via a post on an online auction site. This is

Correct AnswerverifiedShow Answer

Corner Store 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

Correct AnswerverifiedShow Answer

A request to negotiate is an offer.

Correct AnswerverifiedShow Answer

Domestic Gas Company offers to sell Energy Ltd. a certain quantity of liquefied natural gas. If Energy sends an acceptance via Domestic's authorized mode of communication, it will be effective when it is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Simone offers Tom a dozen piano lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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