
Business Law Chapter 6
Authored by Brent Luplow
Other
12th Grade
Used 15+ times

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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.
True
False
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.
True
False
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.
True
False
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.
True
False
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.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A failure to respond at all to an offer can be constructed as an acceptance.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlike other methods of acceptance, a mailed acceptance is effective only when received by the offeror
True
False
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