1. As a general rule, an offeror cannot take back an offer once it is received by the offeree:

True or False

2. A determination of whether two parties to an alleged contract actually reached a "meeting of the minds" is governed by which standard of intent?

Multiple Choice

• Subjective standard

• The 20 Bishops standard

• Objective standard

• Modified objective standard

• Reasonably subjective standard

• 3. Debbie promises to sell Brian a one of a kind baseball card for $1,000. Brian says that he does not have the money right now, but will have at it his next paycheck. Debbie gives Brian a signed written notice that the offer will stay open for two months. Does it the analysis change if Debbie is a merchant seller for this to be a firm offer under the UCC?

• Multiple Choice

• Yes, such offers are not reasonable.

• Yes, such offers are voidable.

• Yes, such offers are void.

• Yes, the offeror must be a merchant, pursuant to the UCC definition of merchant.

• Yes, such offers are only valid until the sun sets.