1. A say to B, "I promise to sell you my car for $5,000.00," B responds "I accept your offer." This is an example of an implied-in-fact contract because all terms are not included.

True

False

QUESTION 2

1. Courts endeavor to determine the intent of the parties to a contract. They do so by applying objective criteria.

True

False

QUESTION 3

1. C says to D that he will paint her house for $10,000.00. If D accepts she must abide by the Mirror Image Rule.

True

False

QUESTION 4

1. John tell Jim that he will build him a custom wall unit in his house for $3,000.00. Jim replies that he will have to think about it. John says "Okay, think about it. I'll leave the offer open for 3 weeks." 10 days later John dies. Jim does not know of his death and sends John a letter 2 days after his death accepting his offer. A contract has been formed.

True

False

QUESTION 5

1. A promise to buy "all the oil I need to heat my shop this winter" recites valid consideration.

True

False