Please help!!!

1. "Sure, I'll sell you my new Corvette for $500, even though it is worth $50,000" would be considered a valid offer.

True or False

2. Advertisements are considered offers and are binding on the company if accepted by the customer.

True or False

3. In both fraud and misrepresentation, the injured party is permitted to terminate the contract and sue for damages.

True or False

4. A(n) __________ contract is a contract in which one party agrees to sell to a second party all the goods that the first party makes in a given period of time.

option

output

current market price

requirements

cost-plus

5. Proof that the subject matter of an agreement had been destroyed before the agreement was made is grounds for rescission.

True or False

6. The recipient of unordered merchandise through the mail has the obligation to pay the sender of the merchandise.

True or False

7. Newspaper and magazine advertisements are typically considered public offers.

True or False

8. A revocation is the calling back of the offer by the offeror.

True or False

9. A mistake made by both contracting parties is called

sales puffery.

concealment.

duress.

a bilateral mistake.

a unilateral mistake.

10. A unilateral mistake made by an innocent purchaser of goods gives that purchaser the right to return the goods and demand the return of any money already paid for them.

True or False

11. Threats of a business nature that forces a person into signing a commercial contract without real consent is known as fraud.

True or False

12. Fraud in the inception occurs when one party tricks another into a contract by lying about the terms of the agreement to get the innocent party to enter the contract under false pretenses.

True or False

13. Which of the following contains rules regarding cyber-contract law?

The Cyberspace Transactions Act

The Internet Contract Act

The C-Sign Act

The Uniform Electronic Transactions Act

14. Unilateral contracts usually require oral or written communication of an acceptance.

True or False

15. The communication of acceptance of an offer must always be express.

True or False

16. Mutual assent evolves through the communication of an offer and an acceptance between the contracting parties.

True or False

17. Generally, for an acceptance to create a contract, the acceptance must be without qualifications or conditions.

True or False

18. The Uniform Computer Information Transaction Act has unified, streamlined, and refined the legal principles regarding such diverse areas as reverse engineering, consumer protection, shrinkwrap licenses, fair use, and consumer warranties.

True or False

19. Which of the following is true of a mistake made in a contract?

Proof of subject matter being destroyed before the agreement was made gives grounds for rescission.

Rescission cannot be granted even if both parties were mistaken in the identification of the subject matter.

Mutual mistakes of opinion are grounds for rescinding a contract.

A unilateral mistake offers sufficient grounds for rescission or renegotiation.