1. A transfer of contractual duties is called nondelegation.

True

False

2. Statements of future interest such as: " I plan to sell my house next year" is not an example of an offer.

True

False

3.A contract that tells one party to take the terms or leave them is an example of an adhesion contract.

True

False

4.A revocation of an offer becomes effective when the offeree receives it.

True

False

5.When parties enter into a contract there must be a meeting of the minds.

True

False

6.Federal executive agencies assists the President in carrying out executive functions in the form of sub agencies.

True

False

7. A contract is a legally binding agreement between 2 or more parties who agree to perform or refrain from some act now or in the future.

True

False

8.An invitation to submit bids on a project is a valid offer.

True

False

9.If the offer to sell a house for $270,000 is met with an offer to purchase at $250,000 that is a counter offer.

True

False

10.A corporation only has to look at the profits and not what is good for society.

True

False