Question: 1 . Under common law, _ _ _ _ _ . a . a contractual obligation may arise even if the agreement has open terms

1. Under common law, _____.
a. a contractual obligation may arise even if the agreement has open terms
b. an offer can be revoked at any time prior to acceptance unless the offeror has given the offeree an option
c. if the acceptance is the same as the offer, no contract results
d. there is no consideration if one party wants to forgive anothers breach by written waiver or renunciation signed and delivered by the aggrieved party

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

1. Under common law, _____. a. a contractual obligation may arise even if the agreement has open terms b. an offer can be revoked at any time prior to acceptance unless the offeror has given the...

Q:

Please solve the mutiple-choice questions in the word doc. INTRODUCTION: Commercial Paper & Agency Commercial Paper Commercial paper (under the category of negotiable instruments) is a document...

Q:

Assignment Score: 0.00% Questions Save ma7s 17h.ch0.01 Submit Assignment 1 Question of 15 2 Check My Work 3 O 4. The president of Deal Corporation wrote to Byd, offering to sell the Deal factory for...

Q:

Multiple Choice Questions 1. Under the Uniform Commercial Code of offer and acceptance as a contract issue, a. merchants should be held to particular standards because they are more experienced b. an...

Q:

Chapter 9 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Q:

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

Q:

1. Was VAAF contractually obligated to pay Chad for refraining from smoking? 2. Was there consideration to support its promise to pay $500? 3. Are there other facts you need to know to make that...

Q:

Chapter 13 Food Legislation INTRODUCTION 5 This chapter provides an understanding of some of the requirements that hotels, restaurants and food outlets must comply with when serving, handling,...

Q:

LST2BSL Introduction to Business Law and Ethics Common Law Assignment INSTRUCTIONS 1. This assignment is worth 20% of your final mark for this subject. 2. All questions must be answered. 3. With...

Q:

PART A: Choose one case from the list of cases below (in attachments) Research relevant arbitrations/case law. You can access Canadian arbitration cases through CANLII , and filter to BC cases...

Q:

To what types of evidence does the privilege against self-incrimination apply? What are the defenses to a Section 1983 suit against a police officer? What is required of each? What is "acting under...

Q:

Two years ago, Kareem invested $5,000 in a savings certificate account with a seven- year maturity and an annual interest rate of 9 percent compounded monthly. Interest rates are higher now and...

Q:

Question 3 1 If all other factors specified in an attributes sampling plan remain constant, changing the specified tolerable rate from 1 0 % To 1 2 % sample size to: Remain the same. Decrease....

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...