. 40

1.Ross offered to sell his couch to Rachel for $1,500.The offer stated that if Ross did not hear back from Rachel within 24 hours, Rachel had accepted the offer.True of False:The general rule is that silence can act as acceptance.

True

False

.

. 41

1.Jill (Age 36) and Jane (Age 19) had a contract that stated that Jill would pay $10,000 for Jane's car.They agreed that on June 1, Jill would pay the $10,000 and on June 2 Jane would deliver the car to Jill. On June 1 the contract is best described as:

An Executed Contract

A voided contract

A voidable contract

An Executory Contract

.

. 42

1.Luka made an offer to Kristaps to sell Kristaps his car.Which of the following is NOT a way in which an offer can be terminated:

Termination by revocation

Termination by rejection

Termination by expiration

Termination by operation of law

All of these answer choices are ways in which an offer can be terminated

.

. 43

1.Willie works with a man named Kenny.Willie loaned Kenny $5,000, and Kenny has not yet paid back any of the money.Willie is concerned that Kenny might die before he is able to repay the $5,000 he owes Willie.True or False:Willie has an insurable interest in Kenny's life.

True

False

.

. 44

1.Management promises to give every employee a $1,000 bonus if management feels like it. This promise:

Is an illusory promise