Business Law CH14 hw

The courts determine an offerors intent based upon how a reasonable person would interpret the offerors words and actions.

How is an offerors intent to be bound by an agreement demonstrated?

Counteroffer

Jason agrees to buy saras car for 10,000. However, sara tells jason that she will only sell the car to him if he pays 12,000. In this scenario, sara makes a(N)___

Option Contract

Macon is planning to buy Kevins car for 15,000. He gives kevin 1,500 to keep open for 30 days. Kevin will deduct the 1,500 from the price of the car if Macon purchase's the car within 30 days. If Macon does not buy the car during that time, Kevin will keep the 1,500 and may then offer the car to someone else. Which of the following contracts does this scenario best illustrate.

Terminated

The original offer is considered____if the offeree makes a counteroffer.

Counteroffer

An offer made by an offeree to the offeror regarding the same matter as the original offer is called a(n)___

1.The offerors must demonstrate a serious intent by the offeror to be bound by the order 2. The offer must contain reasonably definite and certain terms 3. The offer must always be in writing ++ 4.The offer must be communicated to the offeree.

An offer must include all but which of the following elements?

Felipe makes a new offer to Adam when he offers to buy the clock for 3,000.

Felipe, Adam and Shirley are neighbors. Felipe overheards Adams offer to sell an antique clock to shirley for 3,000, under these circumstances.

Definite and certain terms

Which of the following conditions must be present for an offer to have a legal effect?

When the offeror loses the legal capacity to enter into a contract.

Which of the following conditions would terminate an offer, even if the offeree does not know of the terminating event?