An offer to purchase a notebook for $50 creates a power in the offeree to create a contract which is binding on the offeror

• True
• False

2. The use of force or fear is not necessary for an act of theft to be considered a robbery.

• True
• False

3. An offer :

		Must be fair and reasonable in order to serve as the basis for a contract
		which is valid vests power in the Offeree to make a contract by accepting
		Cannot be oral
		All of the above
		None of the above

4. The purpose of strict products liability liability statutes is to shift the cost of injuries from the victim to the manufacturer, who in turn can bear that burden by buying insurance funded with the proceeds of sales of the product.

• True
• False

5. Green Grocers, Inc., transports goods at the request of Hiway Transport Company without expressly agreeing on a price or terms. In a later dispute between these parties over the delivery, the doctrine of quasi contract can be used because

		both of the parties involved are businesses.
		at least one of the parties had greater bargaining power.
		the subject of the contract was a service.
		there is no actual contract covering the subject in dispute.

6. When a party makes a lawful offer, he creates a power in the other party to bind him to an enforceable contract by simply accepting the offer

• True
• False

7. The mental element of a crime is:

		the mens rea.
		not required when felonies are committed.
		the act of committing the crime
		not a necessary element for general intent crimes.

8. Under the general rule, and unless the offer says otherwise,

		An acceptance is only valid when received by the offer are
		An acceptance is valid when mailed
		A revocation is valid when mailed
		All of the above
		None of the above

9. A unilateral contract is formed when the one receiving the offer promises to perform; the requested act or performance.

• True
• False

10. A "formal contract" requires a special form or method of creation or formation to be enforceable.

• True
• False

Answer rating: 100% (QA)

1 False An offer to purchase a notebook for 50 does not create a power in the offeree to create a contract which is binding on the offeror A contract ... View the full answer