I EXPECT COMPLETE AND QUALITY ANSWERS. DO NOT COPY AND PASTE A SOLUTION THAT IS ALREADY POSTED BY SOMEONE ELSE ON CHEGG. REFRAIN FROM ANSWERING IF YOU CANNOT FULFILL MY DEMAND, AND LEAVE IT FOR SOMEONE WHO CAN ANSWER IT. DON'T WASTE MY QUESTION AS THEY ARE LIMITED.

1. Corey sent Sandy a letter in which Corey offered to purchase ten acres of property from Sandy for $6,000. Sandy responded that she would sell eight of the acres for that price. Does a contract exist between Sandy and Corey

a. Yes, for the sale of ten acres for $6,000

b. Yes, for the sale of eight acres for $6,000

c. Yes, for the sale of nine acres for $6,000.

d. No, a contract does not exist between Corey and Sandy.

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2. The fact that both parties to a contract must do or promise to do something of a valuable nature refers to which of the following essential requirements for a valid contract?

a. Legal form

b. Competent parties

c. An agreement.

d. Consideration.

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3. Which of the following is not an essential element of a valid contract? a. Contractual capacity. b. Agreement. c. Legality. d. Consideration.

e. All of the above are essential elements of a valid contract.

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4. Rochelle, age 17, is a talented painter and operates her own business selling her works at various galleries. She purchased a quantity of paint and an easel from an art supply shop. She later saw comparable supplies for sale for less money elsewhere. Can she cancel her contract with the arts supply shop (assume the store has a no-return policy)? a. Yes but she must pay for depreciation of the goods. b. Yes but she must pay for the reasonable value of the merchandise. c. No because she bought the items for her business. d. No because contracts are never voidable.

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5. Which of the following would be considered an offer? a. Newspaper advertisements listing dates and price of a large department store anniversary sale. b. A personal letter sent by David to Carman stating that David's 2003 Chevrolet is for sale for 6,000 cash. c. A personal letter sent by Hannah to Bart inviting Bart to attend a special auction of antiques. d. A letter from Darian asking Jacob if Jacob would consider selling his guitar which Darian has long admired.