Chapter 10: Creating a contract

Courts have generally held that advertisements for the sale of goods at a specified price are ______

not offers

If an offeree attempts to accept an offer that has been terminated, the original offeror is ______

the offeree of a new offer

What, if anything, must an offeree do to accept a unilateral contract?

Perform the act the offeror requests

If there is no offer, ______

there is no contract

Which of the following is not a requirement for promissory estoppel?

A violation of the parol evidence rule

As a general rule, which of the following is correct regarding whether a person going to a show is bound by the fine print on her ticket?

If the offeree reads the fine print, or if a reasonable person would have been on notice of the fine print, she is bound by it.

As a general rule, what are advertisements for the sale of goods at a specified price?

Invitations for readers of the advertisement to make an offer

Which of the following is correct regarding a firm offer?

It must be made by someone who deals in the kinds of goods involved in the offer.

Which of the following is correct regarding an option contract?

The option is a separate contract for the limited purpose of holding the offer open.

Which of the following is correct regarding website and newspaper advertisements?

Website advertisements, like newspaper ads, generally are treated as invitations to buyers to make an offer rather than as offers themselves.

Which of the following is created when an offeree gives the offeree something of value in exchange for a promise not to revoke the offer for a state period of time?

an option contact

Traditionally, shrinkwrap agreements were ______

enforced unless their terms violated contract rules such as unconscionability

A(n) ______ cannot be revoked if the offeror promises to hold the offer open.

firm offer

The two main requirements a court looks for in determining whether the offeror had a present intent to contract are ______ and ______

how definite the supposed offer is; whether the offeror has communicated the offer to the offeree

Sellers at auctions are generally held to be ______

inviting others to buy an auctioned item

If an offer has been terminated and the offeree nevertheless attempts to accept the offer, the ______

offeree becomes an offeror

Subcontractors who submit a bid for a portion of a project are considered

offeror

Advertisements for rewards for the return of lost property, for information, or for the capture of criminals are generally held to be ______ for ______ contracts

offers; unilateral

The basic thing courts require for the creation of an offer is a ______ intent to contract on the part of the ______

present; offeror

If parties have dealt with each other on a regular basis, their ______ will be considered in determining a reasonable time for acceptance

prior dealings

In a unilateral contract situation, if the offeree starts to perform but the offeror revokes before the performance is complete and the offeror benefited from the offeree's attempted performance, some courts may allow the offeror to revoke but require him to pay the offeree the ______ under a(n) ______ contract theory.

reasonable value of the performance; quasi

As a general rule, if an offeror has promised not to revoke her offer for a stated period of time, ______

she may nevertheless revoke the offer at any time prior to acceptance

Today, the judicial trend is to ______ and, consequently, more ______ and ______ terms

tolerate more indefiniteness; open; missing

If an offer does not state a time for acceptance, it is _____

valid for a reasonable time

After a court decides that an offer existed, it must then decide ______.

what, if anything, the offeree agreed to