JURI 530 QUIZ 2 REVIEW FALL 2020
Question 1
2 out of 2 points
If an offeror mails an offer to an offeree, and the offeree responds by properly
... [Show More] mailing the acceptance back to the offeror, when is the acceptance effective?
Selected Answer: The moment the offeree mails the acceptance under the common law rule.
• Question 2
2 out of 2 points
Louis is a human resources manager. He interviews Tim for a sales associate position. He offers to hire Tim for a 12-month contract term that will pay him a base salary plus a bonus in the amount of 1.5% of Tim’s total monthly sales, payable at the end of each quarter. Tim responds by saying, “That sounds good. I’d just need those bonuses to be paid monthly.”
Selected Answer: Tim’s response constitutes a rejection and counteroffer.
• Question 3
2 out of 2 points
When applying the “Battle of the Forms” provision of the Uniform Commercial Code, which of the following is false?
Selected Answer: It is not important whether the parties are merchants as defined under the Uniform Commercial Code.
• Question 4
2 out of 2 points
Three identical, adjacent, undeveloped commercial real estate parcels are for sale in an industrial park. Parcels 1 and 2 are owned by Philippe. Parcel 3 is owned by Carol. Philippe and Carol are at a community event together. Baxter is a real estate investor who happens to meet Philippe and Carol at the event. He offers to purchase Parcel 3 from Carol, who says his offer is too low for her to consider. Philippe, however, tells Baxter that he accepts Baxter’s offer.
Selected Answer: Philippe does not have the power to accept Baxter’s offer because the offer was not made to him.
• Question 5
2 out of 2 points
Alex and Barb meet to discuss a contract for Alex to design new landscaping around Barb’s midcentury ranch-style home. Alex looks at the property, sketches out some ideas, and offers to provide her with detailed design plans if Barb will pay him $3,500 once the plans are complete. Barb, intending to make a contract, shakes Alex’s hand and indicates that she “can’t wait” to see his designs.
Which of the following statements is least significant for the purpose of determining whether Alex and Barb have formed a contract? [Show Less]