Question 6

An offer can only be communicated by words; conduct cannot constitute an offer.

Group of answer choices

True

False

Question 7

In order to form a contract, the parties must:

Group of answer choices

manifest their agreement subjectively.

manifest their agreement objectively.

indicate solely through the written word their intent.

create a formal document.

Question 8

Nadira mails an offer to Cade on March 15. Cade receives the offer on March 16. Nadira mails a revocation of the offer on March 17. Cade mails a letter of acceptance on March 18. Cade receives the revocation on March 19. Nadira receives the letter of acceptance on March 20. Was a contract formed?

Group of answer choices

Yes, on March 16.

Yes, on March 18.

Yes, on March 20.

No, the offer was revoked before acceptance.

Question 9

If no time is stated, an offer will terminate automatically after a reasonable period of time.

Group of answer choices

True

False

Question 10

Wes, who is an art collector, offered to buy a print from Le Monde Gallery. Le Monde balked at the price, sending Wes a letter of rejection. That day it discovered that the print was not as highly valued as originally thought. Le Monde immediately telephoned Wes to accept his offer. Is there a contract?

Group of answer choices

Yes, since the acceptance was received before the rejection.

No, because the rejection was effective upon dispatch.

No, because the rejection terminated the offer.

Yes, because the acceptance is always effective upon dispatch.