Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. In order for an offer to be valid, it must be definite and certain. 1. _________
2. The person who makes a proposal to enter into a contract is the offeror.
2. _________
3. In order for an acceptance to be valid, it must be communicated to the offeror.
3. _________
4. Requests for proposals and announcements asking for bids or estimates are usually considered legally binding offers. 4. _________
5. According to the UCC, uncertainty with respect to specific terms does not necessarily invalidate a contract. 5. _________
6. A newspaper advertisement of goods for sale is usually considered an invitation to trade.
6. _________
7. If an advertisement contains a positive promise and a positive statement of what the advertiser expects in return, the courts will usually hold that the advertisement is an offer.
7. _________
8. A direct, unqualified rejection terminates an offer. 8. _________
9. An offer that includes specific time limits expires automatically when the time is up unless the offeror chooses to extend the offer. 9. _________
10. The mailbox rule states that an acceptance sent via the postal system or by courier is effective when received by the offeror. 10. _________