Question: Explain the difference between an offer and an invitation to treat. ( LO 5.4 , 5.5 ) Explain the term counter offer. ( LO 5.6

  1. Explain the difference between an offer and an invitation to treat. (LO 5.4,5.5)
  2. Explain the term "counter offer." (LO 5.6)
  3. Name the four ways an offer can be terminated. (LO 5.1,5.2)
  4. Explain the four basic requirements needed to make contract. (LO 5.5)
  5. Explain the concept of consideration. (LO 5.6)
  6. What is a "gratuitous promise"? (LO 5.6)
  7. What is the difference between a "clickwrap" and a "browse-wrap" agreement? (LO 5.6)
  8. How does intention determine the enforceability of an agreement? (LO 5.5,5.6)
  9. What is a "functional equivalency clause" in e-contracts? (LO 5.9)
  10. Explain the difference between express and implied terms in a contract. (LO 5.8)

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 Law Questions!

Q:

FOR REVIEW Questions 1. Explain the difference between an offer and an invitation to treat. (LO 5.4, 5.5) 2. Explain the term "counter offer." (LO 5.6) 3. Name the four ways an offer can be...

Q:

Law for Business Managers Assignment 1 The Assignment consists of a series of questions from each chapter covered in Chapters 1-5 Canadian Business Law Today. Questions for each chapter will be due...

Q:

please help? Questions Chapter 4 Specific Issmes in Tort Law- Due Day 5 1. Describe the types of situations where a company could find itself in a product liability lawsuit. What type of strategies...

Q:

Law for Business Managers Assignment 1 The Assignment consists of a series of questions from each chapter covered in Chapters 1-5 Canadian Business Law Today. Questions for each chapter will be due...

Q:

Questions Chap 1 1. Consider the following cases and decide whether criminal or civil proceedings would result, and make a note of the parties in the action. a) Ali is being prosecuted for careless...

Q:

1 . Name the four ways an offer can be terminated 2 . Explain the difference between an offer and an invitation to treat 3 . Explain the four basic requirements needed to create a contract. 4 . How...

Q:

please write on your own answer don't copy and paste 1. explain the difference between an offer and an invitation to treat. 2. explain the term "counter offer" 3. name the four ways an offer can be...

Q:

EVEW Prep - Question Bank 1. What are the five ways a contract may be discharged? 2. What is a Breach of Contract? 3. What is Repudiation? 4. How are the two types of Repudiation different from each...

Q:

1. What is meant by the term "meeting of the minds"? How is it significant to the formation of contracts? 7. Distinguish between an offer and an invitation to treat. Give an example of each. How does...

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:

Research Equipment Inc. (REC) is a small manufacturer of precision tools used to construct research equipment for engineering departments at colleges and universities. It sells its two main products,...

Q:

How to answer these questions based on the text below: 1. What are the characteristics of "vertically integration?" How does having a vertically integrated orientation affect the levels of various...

Q:

Which of the following occurs when a corporation's board of directors declares a cash dividend for both preferred and common stock? O Dividend expense is debited for common stock and Dividends ( an...

Q:

we return our focus from the specifics of information technologies and the formulation of ideal strategies to the wider world of real corporate behavior. Our emphasis now shifts to the actual...

Q:

1. Explain the two causes of market failures. Given their definitions, could a market be affected by both types of market failures simultaneously? LO4.1

Q:

2. Assume that candle wax is traded in a perfectly competitive market in which the demand curve captures buyers full willingness to pay while the supply curve reflects all production costs. For each...

Q:

6. Match each of the following characteristics or scenarios with either the term negative externality or the term positive externality. LO4.4 a. Overallocation of resources. b. Tammy installs a very...