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Exam 11: Agreement

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Question 21

True/False

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An agreement exists when one party offers a certain bargain to another party.

A) True
B) False

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Question 22

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Owen decides to sell his ranch, Pine Ridge, in a live auction. When the auctioneer puts the property up for bids, it will be

A) an offer.
B) an invitation to submit offers, not an offer itself.
C) a circular, not an offer.
D) a price list, not an offer.

E) None of the above
F) A) and B)

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Question 23

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A click-on agreement can indicate the acceptance of an online offer.

Kent tries to start his car with no success. He yells that he will sell the car to anyone for $10. Livy, a passerby, hears Kent's yell. This is not an effective offer because it lacks

The primary purpose of the Uniform Electronic Transactions Act is to create new rules for electronic contracts.

Before the UETA applies, each party to a transaction must agree to conduct it by electronic means.

Charter Company offers to provide an air-conditioned bus to Denny's tour group for $1,500 plus the cost of the fuel. The mailbox rule applies if Denny accepts the offer by

An offer can be revoked by the performance of an act that is inconsistent with the existence of an offer and that is made known to the offeree.

Business Software Corporation (BSC) sells business apps-wage, price, and inventory coordinating programs, for example-in different combinations and packages, at different prices, downloadable online. To complete a deal, a purchaser clicks on a button that, with reference to certain terms, states, "I agree." What is this agreement called? Do the parties have a binding, enforceable contract that includes the terms? Explain.

An offer must express reasonably definite terms to be effective-no term may be reasonably inferred.

The power of acceptance continues forever.

Larry advertises a reward for the return of his lost dog. Miguel does not learn of the reward, but finds and returns the dog. With respect to Miguel, Larry's ad is not an offer because it lacks the element of

An ad for the New Plays Festival asks playwrights to submit their work and "we might produce it for the world." Oded submits a play with a note that states, "I accept." Between the Festival and Oded, there is

Acceptance of an offer by a method not authorized by the offeror renders the offer invalid.

Fresh Agro Inc. offers to deliver produce to Growers' Market for a certain price. Fresh's intent to extend an offer is determined by reference to Fresh's

The offeror can revoke the offer only be expressly repudiating it.

An expression of opinion can indicate an intent to enter into a binding agreement.

Vin admires Will's collection of coins. Vin asks, "Will you sell it?" This statement is

Megan gives out a business card with an e-mail address on it. It is reasonable to infer that Megan has consented to

Anton tells Brooke, who has no knowledge of Shakespearean comedy, that he will tutor her in the subject for $50. As an offer, this is