offer and acceptance
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Offer and Acceptance. Chapter 6. True/False. 1. The person to whom an offer is made is termed the offeror . True/False . 1. False. True/False. 2. all contracts have to be in writing to be enforceable. . True/false. 2. False . True/False. - PowerPoint PPT PresentationTRANSCRIPT
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Offer and Acceptance
Chapter 6
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True/False• 1. The person to whom an offer is made is termed
the offeror.
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True/False • 1. False
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True/False• 2. all contracts have to be in writing to be
enforceable.
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True/false• 2. False
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True/False• A store display of a MP3 player marked $121.00
would be an offer.
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True/False• 3. False
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True/False• 4. the write to withdraw an offer before it is
accepted is known as the right of redemption.
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True/False• 4. False
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True/False • A clear rejection terminates an offer.
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True/False• 5. True
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Multiple Choice• 12. Which of the following is not one of the major
requirements for a contract?
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Multiple Choice• 12. A (offer and accommodation)
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Multiple Choice• 13. Which of the following is not a test that a
valid offer musty pass?
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Multiple Choice• 13. C (Is the offer a Solemn offer and not made in
jest?)
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Multiple Choice• 14. An unaccepted offer may be terminated by?
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Multiple Choice• 14. D (All of these)
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Multiple Choice• 15. Which of the following statements about a
firm offer is untrue?
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Multiple Choice• 15. D (all of the above statements are true.)
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Multiple Choice• 16. Which of the following circumstances might
render an acceptance invalid?
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Multiple Choice• 16. C (The offer is accepted by someone other
than the offeree & the acceptance does not match the offer.)
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Completion• 33. To be legally enforceable as a contract, the
agreement must involve both sides receiving both sides receiving something of legal value as a result of the transaction. This something of value is labeled?
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Completion• 33. Consideration
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Completion• 34. Individuals who regularly deal in he goods, or
tangible personal property, being bought or sold are labeled?
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Completion• 34. Merchants
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Completion• 35. After an offer is rejected, unless renewed by
the original _________, the offeree can no longer accept the original offer.
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Completion• 35. Offeror
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Completion• 38. When the specific subject matter of an offer is
destroyed before the offer can be accepted, the offer is automatically_________.
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Completion • 38. Terminated
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Completion• Dalia owns a dress shop in town; she purchases
much of the mechandise for her store from Wholesale Clothiers, Inc. Wholesale offers to sell Dalia 20 various prom dresses at a price of $65 each and agrees to keep this offer open for 30 days. Both parties sign a document agreeing to the timeframe of the offer. Their agreement is best described as a(n)____________.
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Completion• 36. Firm Offer