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Offer and Acceptance

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.

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Offer and Acceptance

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  1. Offer and Acceptance Chapter 6

  2. True/False • 1. The person to whom an offer is made is termed the offeror.

  3. True/False • 1. False

  4. True/False • 2. all contracts have to be in writing to be enforceable.

  5. True/false • 2. False

  6. True/False • A store display of a MP3 player marked $121.00 would be an offer.

  7. True/False • 3. False

  8. True/False • 4. the write to withdraw an offer before it is accepted is known as the right of redemption.

  9. True/False • 4. False

  10. True/False • A clear rejection terminates an offer.

  11. True/False • 5. True

  12. Multiple Choice • 12. Which of the following is not one of the major requirements for a contract?

  13. Multiple Choice • 12. A (offer and accommodation)

  14. Multiple Choice • 13. Which of the following is not a test that a valid offer musty pass?

  15. Multiple Choice • 13. C (Is the offer a Solemn offer and not made in jest?)

  16. Multiple Choice • 14. An unaccepted offer may be terminated by?

  17. Multiple Choice • 14. D (All of these)

  18. Multiple Choice • 15. Which of the following statements about a firm offer is untrue?

  19. Multiple Choice • 15. D (all of the above statements are true.)

  20. Multiple Choice • 16. Which of the following circumstances might render an acceptance invalid?

  21. Multiple Choice • 16. C (The offer is accepted by someone other than the offeree & the acceptance does not match the offer.)

  22. 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?

  23. Completion • 33. Consideration

  24. Completion • 34. Individuals who regularly deal in he goods, or tangible personal property, being bought or sold are labeled?

  25. Completion • 34. Merchants

  26. Completion • 35. After an offer is rejected, unless renewed by the original _________, the offeree can no longer accept the original offer.

  27. Completion • 35. Offeror

  28. Completion • 38. When the specific subject matter of an offer is destroyed before the offer can be accepted, the offer is automatically_________.

  29. Completion • 38. Terminated

  30. 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)____________.

  31. Completion • 36. Firm Offer

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