Chapter 6 Contracts

The terms of a contract must be accepted by the party to whom it was communicated.

• true
• false

An agreement to commit a crime can be considered a contract.

• true
• false

A bilateral contract is one that is formed by a mutual exchange of legally binding promises. 

• true
• false

An offeror must appear to be serious when making an offer.

• true
• false

Words spoken in anger are not considered an offer.

• true
• false

Preliminary negotiations are considered to be offers.

• true
• false

A purported offer that lacks essential information is legally
ineffective.

• true
• false

An executed contract is a contract that has not been fully performed. 

• true
• false

A person who is not the intended offeree can accept the offer. 

• true
• false

Advertisements that ask the offeree to perform an act as a way of accepting cannot be considered offers. 

• true
• false