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Business Law Ch11
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) If the terms and conditions of a contract cannot be easily understood. a court may create a fake contract called a quasi-contract to determine a correct resolution.
A
true
B
false
2) An offeror must have a serious intention to become bound by the offer.
A
true
B
false
3) An invitation to negotiate—“can you afford this?”—is an offer.
A
false
B
true
4) An expression of opinion—“your customers will like this”—is an of¬fer.
A
true
B
false
5) An offeree’s power of acceptance is terminated when the offeror dies unless the offer is irrevocable.
A
false
B
true
6) An acceptance subject to new conditions implicitly rejects the offer.
A
false
B
true
7) If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.
A
false
B
true
8) A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.
A
false
B
true
9) Under federal law, an electronic signature can be as valid as a signature on pa¬per.
A
true
B
false
10) The UETA does not apply to a transaction unless the parties agreed to conduct the transaction electronically.
A
false
B
true
11) Nate tells Opal, “I might sell the skis that I bought last fall since I haven’t used them and the skiing season is almost over.” This is
A
a statement of future intent
B
an invitation to accept an offer
C
an offer
D
an acceptance of an offer
12) Yvon asks Zack, “Do you want to buy one of my fishing rods?” This is
A
not a valid offer because Zack did not respond
B
not a valid offer because Yvon did not state an intent
C
not a valid offer because the terms are not definite
D
a valid offer
13) Elmo advertises a reward for the return of his lost dog. Floyd, who does not know of the reward, finds and returns the dog. Floyd cannot recover the re-ward because he
A
did not know of the reward when he found and returned the dog
B
did not confer a benefit on Elmo by returning the dog
C
does not need the money
D
returned the dog
14) Interstate Coffee Brokers, Inc. (ICBI), offers to sell Java Roasters, Inc., fifty bags of coffee beans. Java rejects the offer. The offer is
A
terminated
B
valid for a reasonable time to give Java a second chance
C
valid until ICBI revokes the offer
D
valid for the period of time prescribed by a state statute
15) Bill offers to sell his Consumer Service Center business to Dina for $100,000. Dina replies, “The price is too high. I will buy it for $90,000.” Dina has
A
made a counteroffer without rejecting the offer
B
accepted the offer
C
rejected the offer and made a counteroffer
D
rejected the offer without making a counteroffer
16) Quik Fix-IT, Inc., offers Pam a job as a plumber. No time for acceptance is specified in the offer. The offer will terminate
A
after a reasonable period of time
B
never
C
after a usual month (thirty calendar days)
D
after a typical work week (five business days)
17) Alan offers to transfer Beth’s DVDs to digital flash drives for $150 plus the cost of the drives. The mailbox rule will not apply if Beth accepts the offer by
A
messenger
B
telegram
C
regular mail
D
e-mail
18) Tomato Farms (TF) offers to sell Unified Grocers, Inc., a boxcar load of tomatoes. The offer is sent via overnight delivery because an acceptance is re¬quired urgently. It would be most reasonable for Unified to accept via
A
a fax send to TF as soon as the offer is received
B
a fax, a letter, or a phone call to TF within two weeks
C
a phone call to TF within five business days
D
a letter mailed to TF within two days
19) Flem, a user of GameCenter.com’s Web site, can download gaming software for free if he first clicks on “I accept” after viewing certain terms. This is
A
unenforceable
B
a contract that includes the terms
C
a contract that does not include the terms
D
not a contract but the terms are enforceable
20) Deb buys a song through eSongs, an online music vendor. Before completing the purchase and downloading the song, Deb must agree to a provision not to make and sell copies of the song. This provision is
A
a choice-of-law clause
B
a click-on agreement
C
a shrink-wrap agreement
D
a browse-wrap term
*select an answer for all questions
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