All True or False An offer of a unilateral contract is accepted by the performance of action.
Question:
All True or False
An offer of a unilateral contract is accepted by the performance of action.
If the offeror specifies a method of acceptance (e.g. mail), the offeree can only accept by that method. Any other method is a counteroffer.
A composition of creditors is a method of discharging liquidated debts for less than the liquidated amount.
A minor's contract for a necessary item is always valid. The minor cannot disaffirm.
The Uniform Commercial Code (UCC) permits the modification of contracts for the sale of goods without new consideration.
A voidable contract is a real contract in which one party can escape liability (e.g. minor's contract).
A unilateral mistake of law by one party to a contract would, nonetheless, result in a valid contract.
The Federal Trade Commission (FTC) has adopted a rule which permits consumers to rescind home solicitation sales of $25 or more within 3 business days.
Undue influence requires that there be a trusting relationship between the parties.
A promissory note that was created as a result of illegal gambling would be void and unenforceable.
Grandfather promises to give Robin his IBM stock "in consideration of the love and affection " Robin has shown him. Grandfather's promise is supported by consideration.
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen