12. Once an offer has been accepted, that acceptance cannot be revoked.

13. Entrusting goods to a "merchant" under the UCC empowers him to transfer ownership rights to a buyer in the ordinary course of business.

14. The Commerce Clause of the United States constitution authorizes the Federal Government to regulate intrastate commerce.

15. An "IOU" is enforceable but not negotiable.

16. Banks are allowed by the UCC to pay postdated checks even before the date written on the check.

17. Silence can be acceptance of an offer.

18.A contract with an unemancipated minor (under 18 years old) is VOIDABLE by either party to the contract.

19. A negotiable promissory note is still negotiable even though it is secured by a real estate motrtgage.

20. In an auction "without reserve", the highest bid is the acceptance of the offer