Question 1(10 points)

Directions:Match each of the numbered definitions with the correct term in the following list.

Question 1 options:

1

2

3

4

5

6

7

8

9

10

A new and different response to an offer.

1

2

3

4

5

6

7

8

9

10

A principle that states that an acceptance sent via the postal system or by courier is effective when sent.

1

2

3

4

5

6

7

8

9

10

Agreement to a proposal or an offer.

1

2

3

4

5

6

7

8

9

10

The reason for termination of an offer that has not been accepted by the offeree within the time limits specified.

1

2

3

4

5

6

7

8

9

10

The person who makes an offer.

1

2

3

4

5

6

7

8

9

10

A call for a bid or estimate for materials to be furnished or work to be done.

1

2

3

4

5

6

7

8

9

10

The offeror's rescinding of an offer that has never been accepted by the offeree.

1

2

3

4

5

6

7

8

9

10

The prevailing legal view of a newspaper advertisement.

1

2

3

4

5

6

7

8

9

10

An offer to large groups of people, only one of whom can accept.

1

2

3

4

5

6

7

8

9

10

The party to whom an offer is made.

1.acceptance

2.counteroffer

3.invitation to trade

4.lapse of time

5.mailbox rule

6.offeree

7.offeror

8.public offer

9.request for a proposal

10.revocation

Question 2(2 points)

Offer:Why are newspaper advertisements not considered valid offers?

Question 1 options:

Question 3(2 points)

Acceptance:Describe the circumstances under which silence on the part of an offeree will be a valid acceptance. Does this seem reasonable and fair?

Question 2 options:

Question 4(2 points)

Counteroffer:Why does the law interpret a counteroffer that is a conditional or qualified acceptance as a rejection of the offer and not binding on the parties?

Question 5(2 points)

Termination of an Offer:If an offer is rejected, should the offeree have the right to negotiate before the offer is considered terminated?

Question 6(2 points)

Definite and Certain Offer:Neto learned that Quan, his neighbor, intended to sell his powerboat. Neto texted Quan stating that he wanted to buy the boat and he would pay a "fair price." A few days later, Quan sold the boat to someone else for a higher price than Neto would have been willing to pay.(Example answer:No, Yes, Yes, No)

1. a.Does Neto have a legal course of action against Quan?
2. b.Is there anything illegal about this case?
3. c.Can Quan safely ignore Neto's offer because it lacked certainty and definiteness?
4. d.If Neto had specified a price he was willing to pay, would Quan have been obligated to accept it?

Question 7(2 points)

Silence as Acceptance:Kallinteris opened a travel agency in her small town. She then received an e-mail message from a local office supply company with which she had no prior dealings wishing her luck with her new business and advising her that she would soon be receiving $250 worth of office supply items, such as file folders, pens, printer cartridges, and so on, unless she informed the company that she did not want these items. Kallinteris did not respond to the e-mail message and received the supplies a few days later. (Example answer:No, Yes, Yes)

1. a.Does Kallinteris's silence constitute an acceptance of the terms of the agreement?
2. b.Does a valid contract between Kallinteris and the office supply company exist?
3. c.If Kallinteris uses the supplies, will she be required to pay for them?

Question 8(2 points)

Termination of an Offer:Redmond offered to sell Goosen her used car for $6,000. Goosen could not make up his mind and, finally, after five months, told Redmond that he would accept her offer.

1. a.Goosen can accept Redmond's offer even though five months have passed.
2. b.Goosen cannot accept Redmond's offer due to the doctrine of revocation.
3. c.Redmond could have required that the offer be accepted within three days.
4. d.Goosen's statement after five months that he wanted to purchase the car for $6,000 is an offer by him that may be accepted by Redmond if she so chooses.