QUESTION 34 Consideration to a contract is where: O a. One party gives up something of legal value Ob. Both parties give up something of legal value O c. Both parties give up something of fair value Od. Both parties are polite and considerate when negotiating a contract QUESTION 35 Tripp puts an ad in the local paper offering to sell his motorcycle for $1,000. Five people respond to the ad with a written acceptance and two people respond by phone. Which is a correct statement: a. Tripp must sell the motorcycle to the first person to respond in writing Ob. Tripp must sell the motorcycle to the first person who responds in writing and must pay damages to the four remaining people who responded in writing c. Tripp must sell the motorcycle to the first person who responds in writing and must pay damages to the all six remaining people who responded both in writing and by phone. Od. Tripp can choose to sell the motorcycle to any of the seven people and does not have to pay damages to anyoneQUESTION 36 Jimmy goes on to the internet a uses a search engine called "Hoople". Hoople is incorporated in California. He clicks on the radio button that says "I agree to the terms of use". However he does not actually read those terms. If he wants to sue Hoople in New York which is true: a. He cannot sue Hoople in New York, if the terms of use says he can only sue in California. Ob. He cannot sue Hoople in New York, because Hoople is incorporated in California Oc. He can sue Hoople in New York if he proves to the court that he did not read the terms of use Od. He can sue Hoople in New York no matter what the terms of use say because Hoople does business over the internet in New York QUESTION 37 If Mike offers to sell his home to Robert for $500,000, but Robert replies, "your price is too high, I will pay you $450, 000," then Robert's response is: A counter offer An acceptance A quasi contract An illusory offer