LAW OF CONTRACT : OFFER AND ACCEPTANCE

Sometimes it appears that a person is making an offer, but in actual fact, it turns out he did not. An __________ merely invites the interested parties to make an offer

• Offer to an individual

• Invitation to treat

• Inquiry

• Offer to the world at large

After talking to the salesman on the phone, Molley agree to buy a set of glassware. What type of contract is this?

• Oral

• Unenforceable

• Valid

• Written

After being offered a new car at a discount, Macey decided to turn down the offer. How was this contract terminated?

• referral

• refusal

• rejection

• renovation

What is a counteroffer?

• A further offer made by the original offeror.

• Where a party seeks to introduce a secondary or ancillary agreement to the original contract.

• Where a party seeks to change or vary terms of the original offer or seeks to introduce a new term(s).

• A rejection and withdrawal of the original offer.

All contracts have to be in writing to be enforceable.

• True

• False

A store display of a MP3 player marked $121.00 would be an offer.

• True

• False

A clear rejection terminates an offer.

• True

• False

A failure to respond at all to an offer can be construed as an acceptance.

• True

• False

If a person finds and returns a watch for which a reward is offered but does not know of the reward offer, the person is still entitled to the reward.

• True

• False

Advertisements in newspapers, radio, television, and direct mailings are considered to be

• valid offers

• contracts

• invitations to treat

• none of the above