Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

that Idina has always admired her (July's) collection of key chains. July says to Idina, a immediately says to July, And I will buy the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
that Idina has always admired her (July's) collection of key chains. July says to Idina, a immediately says to July, "And I will buy the whole kit and caboodle, then and there, 4.) July knows t a Grand for it," to I can "I plan to sell the entire collection w hen I get tired of it so long as for a price tike that." In lHight of this exchange only, July and Idina's statements con A. A valid offer and a valid acceptance B. A valid offer but an invalid acceptance. C. A valid acceptance but an invalid offer D. Neither a valid offer nor a valid acceptance. EA valid contract that is enforceable because Idina's acceptance was no more speculative than July's offer (mirror image rule). 5) "Estoppel" (e.g., "promissory estoppel") isaprini that seeks to A. Common law." B. Equitable . Statutorylaw preventpeople from saying one thing and then doing another. lack of capacity and/or legality D. Case law er in a retail E. All of the above. 6.) Trademark is to source of product as copyright is to A. Design B. Durable medium C. Process D. Invention or innovation E. Idea so long as it is a creative one 7.) Jon says to Kristy, "I am willing to sell you or anyone else my entire sports memorabilia collection for $2,500." This is: Not an offer because the subject matter is not sufficiently described. Not an offer unless at least one, or both, of Jon and Kristy knows the true (actual (accurate) and precise (exact)) market value of the collection. Not an offer because Jon is willing to sell the collection to "[Kristy] or anyone else" and, therefore, Jon is only inviting Kristy to negotiate. Not an offer because with respect to the "price term," Jon is only expressing his opinion as to the value of the collection. An offer so long as its material terms are reasonably definite and, if disputed, they are discernable by a court A. B. C. D. E

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Japanese Management Accounting Today Japanese Management And International Studies Volume 2

Authors: Masanobu Kosuga, Yasuhiro Monden, Shufuku Hiraoka, Yoshiyuki Nagasaka, Noriko Hoshi

1st Edition

9812700811, 978-9812700810

More Books

Students also viewed these Accounting questions