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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
false
B
true
2) An offeror must have a serious intention to become bound by the offer.
A
false
B
true
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
false
B
true
5) An offeree’s power of acceptance is terminated when the offeror dies unless the offer is irrevocable.
A
true
B
false
6) An acceptance subject to new conditions implicitly rejects the offer.
A
true
B
false
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
true
B
false
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 acceptance of an offer
C
an offer
D
an invitation to accept 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
a valid offer
C
not a valid offer because Yvon did not state an intent
D
not a valid offer because the terms are not definite
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
does not need the money
B
did not know of the reward when he found and returned the dog
C
returned the dog
D
did not confer a benefit on Elmo by returning 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 the period of time prescribed by a state statute
C
valid for a reasonable time to give Java a second chance
D
valid until ICBI revokes the offer
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
rejected the offer and made a counteroffer
B
accepted the offer
C
made a counteroffer without rejecting the offer
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
after a typical work week (five business days)
C
never
D
after a usual month (thirty calendar 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
regular mail
B
messenger
C
telegram
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 letter mailed to TF within two days
B
a fax, a letter, or a phone call to TF within two weeks
C
a fax send to TF as soon as the offer is received
D
a phone call to TF within five business 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
a contract that includes the terms
B
unenforceable
C
not a contract but the terms are enforceable
D
a contract that does not include the terms
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 browse-wrap term
B
a click-on agreement
C
a choice-of-law clause
D
a shrink-wrap agreement
*select an answer for all questions
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