Question 6

Courts are generally more liberal in allowing duration ambiguity (i.e. less definite terms)in terms in business contracts, under the UCC, than when interpreting private contracts under common law.

Group of answer choices

True

False

Question 7

When parties are negotiating a contract, a counteroffer acts a rejection of an offer.

Group of answer choices

True

False

Question 8

Parties often negotiate via mail. When a buyer accepts an offer by mailing a response, the acceptance is considered valid. A contract has been formed, even if the seller withdraws the offer (after the acceptance has been mailed).

Group of answer choices

True

False

Question 9

In what way(s) can an offer expire? Please choose the best answer.

Group of answer choices

Lapse of Time

Death or Person Making the Offer

Illegality

All of the Above

Question 10

A contract induced by physical duressthreat of bodily harmis void; a contract induced by improper threatsanother type of duressis voidable.

Group of answer choices

True

False

Question 11

If there is a misrepresentation (i.e. fraud) of the subject matter of thecontract, then any contract formed is automatically void. Stated differently, where there is fraud in the inducement of a contract, the contract is void.

Group of answer choices

True

False