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Exam 10: The Formation of Traditional and E-Contracts

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Question 21

Multiple Choice

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Mel agrees to work as a freight broker for National Shipping Inc.In determining whether a contract has been formed,an element of prime importance is the parties'

A) intent.
B) character.
C) subjective beliefs.
D) motives.

E) A) and D)
F) A) and C)

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Question 22

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A request to negotiate is an offer.

A) True
B) False

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Question 23

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Macy offers to sell his fitness watch for $50 to Nona.Nona promises to pay Macy the price.Later,they exchange the watch for the funds.A contract was created when

A minor can enter into any contract an adult can,without exception.

Kent tries to start his car with no success.He yells that he will sell the car to anyone for $10.Livy,a passerby,hears Kent's yell.This is not an effective offer because it lacks

Ordinarily,one can agree to a bargain without knowing that it exists.

Reid agrees to sell his Sports Equipment store to Taylor.As part of the sale,Reid promises not to open a similar,competing store anywhere.This promise is most likely

An agreement to agree to the material terms of a contract at some future date may be enforceable.

To exercise the power of acceptance effectively,an offeree must accept an offer without adding or changing any terms.

A click-on agreement can indicate the acceptance of an online offer.

Acceptance may consist of words or conduct.

A landlord can avoid liability for injuries that occur on rental property by including an exculpatory clause in the lease.

Only one party entering into a contract must possess characteristics that qualify him or her as competent for a valid contract to exist.

Under the objective theory of contracts,a contract is not enforceable without a clearly defined objective.

Donald is a minor.He can enter into any contract an adult can,provided

Any contract that is not in writing is unenforceable.

Contracting parties are bound only by terms that can be objectively inferred from promises made.

An offer can be revoked by the performance of an act that is inconsistent with the existence of an offer and that is made known to the offeree.

Best Products,Inc. ,hires Cole to develop and implement an e-commerce strategy for marketing Best's products.Cole signs a contract that includes a clause prohibiting him from competing with Best during and after the employment.Before the strategy is implemented,Cole resigns from Best's employ and opens a business to compete with Best.In Best's suit against Cole,to determine whether Cole may compete with Best,what is the most important factor the court should consider?

An offer that can be accepted simply by a promise to perform does not create a binding contract.