Ch. 8 Pt 1 Rvw

Acceptance DOES NOT have to be completely clear

• True

• False

Under the mailbox rule, an acceptance becomes valid when it is RECEIVED

• True

• False

An acceptance can change the terms of the original offer without rejecting it

• True

• False

A contract that has been fully performed is an EXECUTED contract

• True

• False

Most advertisements are not valid offers, but invitations to negotiate

• True

• False

A bilateral contract comes into existence when promises are exchanged

• True

• False

A unilateral contract is formed when the contract is performed

• True

• False

An implied contract is not an actual contract

• True

• False

A counteroffer is a rejection of the original offer while also making a new offer

• True

• False

Under the mailbox rule, an acceptance is considered valid when it is

• received

• sent