Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this is 7/10, please find the right answers, thank you An agreement usually is structured with: An Offer and an Acceptance Definite and Reasonable Terms

this is 7/10, please find the right answers, thank you
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
An agreement usually is structured with: An Offer and an Acceptance Definite and Reasonable Terms Consideration and compromise Capacity Question 2 The Objective Standard is: Subjectively, as a party to the contract would interpret it Inwardly, as the offeree would interpret the contact The manifestation of a single assent by the offeror Outwardly, as an observer would interpret Ralphs grocery store advertises on the Internet that for this week, Butter Ball Turkeys are 10 cents a pound. Tianna went to buy 100 pounds of turkey for her restaurant. When she tried to pay the manager told her that the price is the regular price of $1.50 per pound. Tianna sues Ralphs. Which of the following is correct? At common law, Ralphs made an invitation to make an offer. At common law, Ralphs made an acceptance to a offer At common law, Ralphs made a binding contract with the reading of the advertisement. At common law, Ralphs made an offer Question 4 Luke decides that he no longer needs his light saber and wants to sell it for $10,000. (He built it himself and it works really well.) That day he got an email from Princess Leia who said that she really liked his light saber and would buy it for $10,000 today. Which of the following is true? There is no offer by any party because Yoda would not approve of it. There is an enforceable contract because Princess Leia's email was an acceptance of Luke's offer. Princess Leia's email is an offer. Luke's decision to sell his light saber for $10,000 was an offer. An offer can be terminated if The offeror revokes the offer The offeror makes an offer which is an option contract The offeror makes a counter-offer The offeror rejects the offer Question 6 1 pts Neil offers Arlene his car for $5.000 and promises to keep the offer open for ten days. Arlene tells Neil that she cannot make up her mind in ten days but that she will pay him $25 to hold the offer open for thirty days. Neil agrees. Two days later, Neil calls Arlene to revoke the offer. Which of the following is correct? Arlene can make Neil sell the car to her for $5,000 Both answers are correct Neil can revoke his offer. Neither answer is correct A counter-offer is: Terminates the original offer made by the original offeror An attempt at accepting the offer but the offeree changes the material terms. It is not the mirror image of the offer. All of these Acts as a rejection of the original offer Question 8 Acceptance per the Restatement 2d. of Contracts is a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer. True False Gunither tells Rachel that she can work at his coffee house (Central Perk) three days a week at \$15 per hour for 5 hours each day. Rachel smiles and walks away. Which of the following is correct? There is no acceptance because silence generally does not constitute acceptance There is acceptance and a contract was formed Gunther's offer is a firm offer A court may require Rachel to work for Gunther based upon a quasi-contract Question 10 Generally, the mailbox rule states Acceptance of an offer is effective only when the offeror calls the offeree to confirm that the offeror actually received the acceptance Acceptance of an offer is effective only when the offeror reads it Acceptance of an offer is effective when it is received Acceptance of an offer is effective when it is mailed

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Finance questions