Naime:

Class

Date:

Review for the Second Exam $-$ Chapters $10-18-$ Contracts!!!

Multiple Choice

Identify the choice that best completes the statement or answers the question.

Viola assures Wendell that she will deliver a truckload of pine seedlings to his tree farm. A person's manifestation of an intent to act in a specified way is part of the definition of

a$.$ an expectation.

b$.$ a moral obligation.

c$.$ an ethical principle.

d$.$ a promise.

Cassandra accepts what she believes was an offer to work for Destination Vacations, Inc., as a chef. In determining whether a contract lias been formed, an element of prime importance is

a$.$ the condition of the workplace.

b$.$ the duration of the work.

c$.$ the intent of the parties.

d$.$ the subject of the contract.

Jack promises to buy Kelly's computer for $$400.$ Jack is

a$.$ an executor.

b$.$ an offeree.

c$.$ a promisee.

d$.$ a promisor.

Lilith promises to buy Marv's handheld game$-$player for $$75.$ Marv is

a$.$ an executee.

b$.$ an offeror.

c$.$ a promisee.

d$.$ a promisor.

Stu makes an offer to Tina to enter into a contract. Tina accepts the offer. A valid contract requires

a$.$ an offer only.

b$.$ an acceptance only.

c$.$ an offer and an acceptance.

d$.$ neither an offer nor an acceptance.

An agreement between Pinnacle Oil Company and Omega Refinery, Inc., requires Omega's bank to pay Pinnacle on receipt of invoices and bills of lading. This letter of credit is

a$.$ a formal contract.

b$.$ no contract.

c$.$ an implied contract.

d$.$ a quasi contract.