Question 1

One element necessary for an effective offer is the offeror's subjective belief in its reasonableness.

Accepted Answer

A) True 
 B)False

Question 2

Acceptance is timely if it is effective before the offer is terminated.

Accepted Answer

A) True 
 B)False

Question 3

In effect,a counteroffer converts the original offeror into an offeree with the power of acceptance.

Accepted Answer

A) True 
 B)False

Question 4

For a contact to be considered valid and enforceable,the parties to a deal must

Accepted Answer

A)   necessarily have it in writing.
B)   manifest their voluntary consent to the same bargain.
C)   know with certainty what kinds of promises will be enforced.
D)   subjectively intend to agree to the terms.E) B) and C)
F) A) and B)

Question 5

Dale's Uncle Ed tells Dale,"If I feel you deserve it at the time,I will give you a new car when you graduate from college." Ed's promise is

Accepted Answer

A)   illusory.
B)   enforceable.
C)   a forbearance.
D)   a preexisting duty.E) B) and C)
F) None of the above

Question 6

If a contract between two parties is avoided

Accepted Answer

A)   both parties are released from it.
B)   both parties must fully perform their obligations under it.
C)   the parties' contractual obligations are postponed.
D)   the parties are bound to negotiate another contract on the same subject.E) All of the above
F) C) and D)

Question 7

A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

Accepted Answer

A) True 
 B)False

Question 8

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Accepted Answer

A) True 
 B)False

Question 9

Business Software Corporation (BSC)sells business apps-wage,price,and inventory coordinating programs,for example-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.

Accepted Answer

This is a click-on agreement,which occur...

Question 10

Before the Uniform Electronic Transactions Act applies,each party to a transaction must agree to conduct it by electronic means.

Accepted Answer

A) True 
 B)False

Question 11

Luke puts his motorcycle up for sale via a post on an online auction site.This is

Accepted Answer

A)   an offer.
B)   an invitation to negotiate,not an offer.
C)   a statement of future intent,not an offer.
D)   a preliminary negotiation,not an offer.E) A) and C)
F) A) and D)

Question 12

Allen promises to pay Barb,his niece,$5,000 if she obtains her degree at City University,where she is in her third year.Barb graduates.Allen must pay Barb because

Accepted Answer

A)   Barb was already at City.
B)   obtaining a degree benefits Barb.
C)   a job can be hard to find after college.
D)   Barb obtained a degree at City.E) A) and B)
F) B) and D)

Exam 10: The Formation of Traditional and E-Contracts

One element necessary for an effective offer is the offeror's subjective belief in its reasonableness.

Correct Answer
verified

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Correct Answer
verified

Allen promises to pay Barb,his niece,$5,000 if she obtains her degree at City University,where she is in her third year.Barb graduates.Allen must pay Barb because

Correct Answer
verified

For a contact to be considered valid and enforceable,the parties to a deal must

Correct Answer
verified

Dale's Uncle Ed tells Dale,"If I feel you deserve it at the time,I will give you a new car when you graduate from college." Ed's promise is

Correct Answer
verified

Luke puts his motorcycle up for sale via a post on an online auction site.This is

Correct Answer
verified

Correct Answer
verified
This is a click-on agreement,which occur...
View Answer

In effect,a counteroffer converts the original offeror into an offeree with the power of acceptance.

Correct Answer
verified

If a contract between two parties is avoided

Correct Answer
verified

A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

Correct Answer
verified

Acceptance is timely if it is effective before the offer is terminated.

Correct Answer
verified

Before the Uniform Electronic Transactions Act applies,each party to a transaction must agree to conduct it by electronic means.

Correct Answer
verified

Exam 10: The Formation of Traditional and E-Contracts

One element necessary for an effective offer is the offeror's subjective belief in its reasonableness.

Correct AnswerverifiedShow Answer

A preliminary agreement can constitute a binding contract if the parties have agreed on all essential terms.

Correct AnswerverifiedShow Answer

Allen promises to pay Barb,his niece,$5,000 if she obtains her degree at City University,where she is in her third year.Barb graduates.Allen must pay Barb because

Correct AnswerverifiedShow Answer

For a contact to be considered valid and enforceable,the parties to a deal must

Correct AnswerverifiedShow Answer

Dale's Uncle Ed tells Dale,"If I feel you deserve it at the time,I will give you a new car when you graduate from college." Ed's promise is

Correct AnswerverifiedShow Answer

Luke puts his motorcycle up for sale via a post on an online auction site.This is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThis is a click-on agreement,which occur...View AnswerShow Answer

In effect,a counteroffer converts the original offeror into an offeree with the power of acceptance.

Correct AnswerverifiedShow Answer

If a contract between two parties is avoided

Correct AnswerverifiedShow Answer

A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

Correct AnswerverifiedShow Answer

Acceptance is timely if it is effective before the offer is terminated.

Correct AnswerverifiedShow Answer

Before the Uniform Electronic Transactions Act applies,each party to a transaction must agree to conduct it by electronic means.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
This is a click-on agreement,which occur...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified