Quiz 8 - Agreements - UNG

Tomato Farms (TF) offers to sell United Grocers, Inc., a boxcar load of tomatoes. The offer is sent via fax. An acceptance is required urgently. It would be most reasonable for United to accept via:

Correct Response a fax sent to TF as soon as the offer is received.

Elmore offers to sell a Ford F-150 for $7,500 to Grace. Before Grace can respond, Elmore refers to the prices for similar Fords and says, "Forget it. I changed my mind." Elmore's offer was terminated by:

Elmore

An acceptance that materially changes a term in the offer will still be considered an acceptance

FALSE

Grant offers to sell his Honda Civic for $10,000 to Ivy. Referring to the prices for similar Hondas, Ivy says, "I'll pay no more than $5,000." Grant says, "Forget it." Grant's offer was terminated by

Ivy

Quik Fix-It, Inc., offers Pam a job as a plumber. No time for acceptance is specified in the offer. The offer will terminate:

after a reasonable period of time

Mayfair Company offers to sell a certain mall to Galleria Stores, Inc., for a certain price if it accepts before 10 A.M. Monday. A contract is formed if Galleria's acceptance is received:

before 10 A.M. Monday.

Bret enters into a contract with Collegiate University over the Internet to take an online course titled "Internet Law." This is an e-contract because

the contract was entered into over the Internet.

Elin decides to try to sell her collection of celebrity memorabilia in an auction "with reserve." If Elin changes her mind, she can withdraw her collection

only before the auctioneer announces that the items are sold

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 statement of future intent.

Jelly Jar Company includes in its online offers a provision that indicates any disputes arising under the contract must be resolved in Kansas. Lena, a resident of Maine, accepts Jelly Jar's offer. If a dispute arises, a court will most likely rule that it must be resolved in:

Kansas.

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

Sent

An offer must be communicated to the offeree to be effective.

True

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 sell copies of the song. This provision is:

a click-on agreement

Corner Convenience Store (CCS) takes out a full-page ad in a local newspaper and runs a thirty-second commercial on a local television station, offering a reward for information leading to the apprehension of a certain criminal. CCS could normally terminate the offer by placing:

a full-page ad in the local paper and a thirty-second commercial on the local station.

Business Properties, Inc. (BPI), offers to sell a warehouse to Corporate Investments. Corporate says that it will pay BPI $100 to hold the offer open for three business days. This

makes the offer irrevocable for three days if BPI accepts.

Wanda tells Vito that she would like to buy his Chocolate Goodies store. Vito declines, but later decides to sell and sends to Wanda, and others, a flyer describing the details. Wanda responds with a letter of "acceptance." Wanda and Vito have:

no contract, because Vito sent the letter to more than one party.

Kim sends an offer to Leo to cut down and remove a tree for $200. Kim says, "If you say nothing, I will consider you to have accepted my offer." If Leo does not respond, he will be deemed to:

none of the choices

Yvon asks Zac, "Do you want to buy one of my fishing rods?" This is:

not a valid offer because the terms are not definite.

Wally's Warehouse offers to sell a certain used forklift to Value Lumber Outlet, but it is stolen before Value accepts. Most likely, Wally's must obtain

nothing for Value because the theft terminated the offer.

Jane offers to sell Kyle three desks for his Lights & Lamps Company administrative office. Kyle sends a rejection first, then changes his mind and sends an acceptance. Whether they have a contract is determined by

whether Kyle's rejection or acceptance is received first.