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Exam 11: Agreement

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Question 31

True/False

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Merely inquiring about an offer constitutes rejection.

A) True
B) False

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Question 32

Multiple Choice

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Obie, a user of phone-apps.com's website, can download apps for free if he first clicks on "I accept" after viewing certain terms. This is

A) a contract that does not include the terms.
B) a contract that includes the terms.
C) not a contract but the terms are enforceable.
D) unenforceable.

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

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Question 33

Multiple Choice

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Rona asks Steve, "Do you want to hire me to repair your fishing net?" This is

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis. Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time. With respect to this offer

Glen offers to sell Helen his iPad for $200. Under the mirror image rule, Helen's response will be considered an acceptance if the terms of the acceptance

Shep offers to make digital copies of Reliable Company's business conference videotapes, CDs, DVDs, and other media for $500. Under the mailbox rule, Reliable's acceptance by e-mail will be considered effective when

The offeror's intention to become bound by the offer must be subjectively clear.

Lon says to Misty, "I would like to sell you my vinyl records." This statement is

Ordinarily, one can agree to a bargain without knowing that it exists.

Pastries Inc. sends Rollo its catalogue showcasing a variety of baked goods for certain prices. This is

Fabien offers to sell his Graphic Signs LLC business to Hanna for $100,000. Hanna replies, "The price is too high. I will buy it for $75,000." Hanna has

Gaia tells Franco that she will pay him $50 to haul lawn debris from her property. Franco's acceptance is complete

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

An agreement to agree to the material terms of a contract at some future date may be enforceable.

On December 1, Petroleum, Inc., sent Rachel & Rico (R&R) a letter, via overnight delivery, offering to employ R&R to review Petroleum's tax situation for the current year for $10,000. In the letter, the company stated that R&R had ten days to accept. On December 5, R&R sent an e-mail message that stated, "The price for the tax analysis seems too low. Would you consider paying $15,000?" Petroleum received the message without responding immediately. The next day, Smith & Taylor, an R&R competitor, offered to conduct the appraisal for $8,000. On learning of this offer, R&R immediately e-mailed Petroleum, agreeing to do the work for $10,000. Petroleum received this message on December 7. Explain why R&R and Petroleum do, or do not, have a contract.

Rejection of an offer is effective only when it is actually received.

Putting up an item for sale on an online auction site is an offer.

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

Rich, an auctioneer, puts a sailboat up for auction. Rich is

Acceptance of an e-contract must show that the offeree voluntarily assented to the offer's terms.