Question 12 pts

Adrianne offered to sell her smartphone to Tom for $400 and also stated to Tom, "I will give you two weeks to accept my offer." One week later Tom learned that Adrianne had sold the phone to Cindy. In this case:

Group of answer choices

Adrianne has revoked her offer to Tom.

Adrianne's offer is a firm offer and she must sell Tom a phoneof the same model for $400.

Adrianne must get the phone back from Cindy if Tom accepts within two weeks.

an option contract was created, so Adrianne is liable to Tom for $400 if she sells the phoneto someone else within the two-week period.

Question 42 pts

Nadira mails an offer to Cade on March 15. Cade receives the offer on March 16. Nadira mails a revocation of the offer on March 17. Cade mails a letter of acceptance on March 18. Cadereceives the revocation on March 19. Nadira receives the letter of acceptance on March 20. Was a contract formed?

Group of answer choices

Yes, on March 16.

Yes, on March 18.

Yes, on March 20.

Question 122 pts

If Harley tells Suzi that he will give her seven days to decide if she wants to buy his motorcycle, he cannot sell it to anyone else until seven days has passed.

Group of answer choices

True

False

Question 132 pts

On Monday morning Ethan sends a letter to Eva rejecting her offer to sell him her lawnmower, but a few hours later, Ethan changes his mind and sends a letter of acceptance to Eva. The letter of acceptance will be effective only if it is received by Eva before she receives the rejection.

Group of answer choices

True

False

Question 152 pts

Elmer wrote a letter to his friend Fred offering to sell Fred an 80-acre farm for $200,000. After mailing the letter, Elmer learns that the farm is actually worth $300,000 and changes his mind about selling. In this case, Elmer:

Group of answer choices

has made a firm offer to Fred which cannot be revoked.

can revoke his offer at any time before Fred accepts it, because there is no consideration to keep it open.

must keep the offer open, because this is an option contract.

cannot, because of promissory estoppel, revoke his offer to Fred.

Question 182 pts

Which of the following is not a requirement for an offer to be effective?

Group of answer choices

be in writing with a signature

be communicated to the offeree

manifest an intent to enter into a contract

be sufficiently definite and certain

Question 192 pts

To be effective, an offer must:

Group of answer choices

be spoken directly to the offeree.

always contain the price of the product or service offered.

always contain the place of delivery.

be communicated to the offeree.

Question 202 pts

An acceptance is generally effective upon dispatch.

Group of answer choices

True

False

Question 212 pts

A counteroffer operates as a rejection of the original offer.

Group of answer choices

True

False

Question 252 pts

If Megan intends to offer and believes she is offering for sale to Alexis her RL1500 space heater and Alexis reasonably believes Megan is offering her RL1900 heater and accepts on that belief, a contract has not been formed because there was no agreement as to the subject matter.

Group of answer choices

True

False