Question 21 (2 points) An acceptance is effective as soon as it is dispatched if the offeree uses: E T) only an authorized means of communication. 1: :31 only a stipulated means of communication. 1' :J an authorized or a stipulated means of communication. Ii: \")1 any reasonable means of communication. Question 22 (2 points) Consideration can have legal value if the promisee: :: :11 does not perform an act in the case of unilateral contracts. \"i does something he or she had no prior legal duty to do in exchange for the I promisor's promise. I\" \"'3' agrees to do something he or she has a legal right to do in exchange for the I promisor's promise. 1:: :11 does not give up something in exchange for the promise made by the promisor. Question 23 (2 points) The requirement of _____ requires a promisee to pay the "price" the promisor asked for in order to gain the right to enforce the promisor's promise. :: )1 promissory estoppel (i I) equity 1: :31 consideration 1' :11 forbearance An honest dispute about the existence or amount of a debt makes the debt a(n) _____ one. 1: :) unliquidated :: )1 illusory :: :11 liquidated :' M) nominal Which of the following is true of minors' ability to disaffirm? \"i Minors may disaffirm their contract for a reasonable time before attaining majority. :' :31 Minors may disaffirm their contracts at any time during their minority. F\") Minors may disaffirm by doing anything that clearly indicates to the other party an intent to be bound by the terms of the contract. 5"\") Minors may disaffirm before reaching majority if their contracts involve title to real estate. The idea behind is that adults who indicate an intent to be bound by contracts entered while still minors should be bound to those contracts and denied the right to disaffirm thereafter. 1' :11 ratification :' :11 disaffirmance i: :} emancipation :' a) forbearance If a court later finds that a person lacked mental capacity at the time the contract was entered into, the contract is I: :) voidable at the election of that person (or his or her guardian or administrator) I: :) voidable at the election of the other contracting party (or his or her agent) I: :31 void ab initio { \"j void All the elements of misrepresentation and the fact that the misrepresentation was knowingly made with an intent to deceive, have to be established to prove :: \")1 undue influence :' \")1 duress :: \")1 fraud :: \"j a unilateral mistake Which of the following is the meaning of the term " caveat emptor"? i: 3' Let the buyer beware 1: :j The parties' duty of care 1' :j Justifiable reliance i: )1 Remedy for fraud The practical difference between the remedies for misrepresentation and fraud is that: \"n a victim of misrepresentation can sue for punitive damages, whereas a victim of 1 fraud cannot. \"'1' a victim of fraud can sue for punitive damages as well as for damages from the J tort of deceit. ( f) a victim of fraud cannot sue for punitive damages. '1: :II a victim of misrepresentation cannot rescind the contract