1A-LEB

The offeree is the one accepting the offer.

• True
• False

When the offeror communicates an offer to contract, the offeree is not required to accept it, but he or she may choose to do so.

• True
• False

Social agreements create legal obligations.

• True
• False

Advertisements are considered invitations rather than offers.

• True
• False

An offer made to one person can be accepted by another.

• True
• False

A contract that comes about from the action of the parties.

• express contract

• implied contract

• unilateral contract

• bilateral contract

The taking back of an offer by the offerer

• rejection

• revocation

• counteroffer

• acceptance

A contract stated in words; may be written or oral.

• offer

• acceptance

• express contract

• implied contract

A contract that amounts to nothing and has no legal effect is

• unenforceable

• voidable

• void

• unilateral

A refusal of an offer by the offeree that brings the offer to an end.

• rejection

• revocation

• counteroffer

• offer