
Business Law Chapter 6
Quiz
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Other
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12th Grade
•
Medium
Brent Luplow
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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The person to whom an offer is made is termed the offeror.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The right to withdraw an offer before it is accepted is known as the right of redemption.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the offeree gives the offeror something of value in return for a promise to keep the offer open, this agreement is itself a binding contract and is called a counteroffer.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The requirement that the acceptance must exactly match the offer for an agreement to be legally effective is known as the reverse image rule.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
While an implied-in-fact contract does not have its terms expressly stated the terms can be inferred from the parties' acts or conduct.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A failure to respond at all to an offer can be constructed as an acceptance.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlike other methods of acceptance, a mailed acceptance is effective only when received by the offeror
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