LS Contracts Quiz
I own an office equipment company and have had a very bad day. I say to you, my top sales person, "I will sell you this business for $25." You say, "I accept your offer." Do we have a contract?
No
I say, "I am going to sell my car for $10,000." You say, "I will buy it. Here's a check for $10,000." Do we have a contract?
No
I say, "I want to sell my car." You say, "I want to buy it." Do we have a contract?
No
I send you a letter offering to sell you my car for $10,000. Before the letter arrives, you send me a letter offering to buy my car for $10,000. My letter reaches you, and your letter reaches me, on the same day. Do we have a contract?
No
I send you a letter on Tuesday offering to sell you my car for $10,000, giving you until Saturday to accept or reject my offer. The letter reaches you on Wednesday. On Friday, I am killed in an auto accident. On Saturday, not knowing that I have died, you deposit in a mailbox a letter that indicates acceptance of my offer. Is there a contract?
No
A clothing store advertised leather jackets in the following way: "Normally priced at $350, today only $150." You come to the store in response to the advertisement, select a jacket and take out $150 in cash to pay for it. The store clerk refuses to take your cash, saying that the price is $300. Was there a contract?
No
A fire breaks out in the College of Business building. The dean immediately calls the fire department and says that the CoB building is on fire, and if they come and put it out, the CoB will donate a brand new fire truck to the fire department. The fire department gets there in three minutes, and puts out the fire with little damage to the building. Is there a contract between the College of Business and the fire department?
No
I invite you to my house for dinner and you accept my invitation. You show up at the appointed time, carrying a bottle of my favorite wine, which cost you $32.99. I'm not at home, having decided instead to go to Las Vegas. Did we have a contract?
No
I send you an unsolicited email offering to sell you my car for $10,000 and stating that if I do not hear from you by Thursday, I am assuming that you have accepted my offer. You read the email and delete it. I don't hear from you by Thursday. Do we have a contract?
No
Joseph Smith says to his son James, "In consideration of the fact that you received an A in your business law course, I will pay you $1,000 in two weeks." Is there a contract?
No
Suppose you come to my office with the dead body of Jesse James. I congratulate you for capturing such a public menace. On the way out of my office, you see the reward poster for the first time, and come back asking for the $5,000. Was there a contract?
No
I say to you, "If you paint my house on Saturday, I will pay you $1,000." You don't respond, but on Saturday you come by and paint my house. Do we have a contract?
Yes
I'm the sheriff of an old western town. The town's bank has just been robbed by Jesse James. I post a notice saying "Wanted Dead or Alive - Jesse James. $5,000 Reward." The next day, you see the reward poster, find and shoot Jesse James, and bring his body to my office. Was there a contract?
Yes
Same facts, except I was killed on Sunday and your acceptance letter reaches my house on Monday. Is there a contract?
Yes
You're interested in buying my car. We talk on the phone and I tell you that I will consider what price I want to sell the car for, and will send you an offer by email. In our phone conversation, we agree that if you don't respond to my offer by Friday, I can assume that you have accepted my offer. I immediately send you an email offering to sell my car for $10,000, which states our understanding that if I don't hear from you by Friday, I can assume that you have accepted my offer. You read the email and throw delete it. I don't hear from you by Friday. Do we have a contract?
Yes
