Question: true or false. 1. Under the UCC, a contract will generally fail because one or more terms are left open. 2. A contract without a

true or false. true or false. 1. Under the UCC, a contract will
1. Under the UCC, a contract will generally fail because one or more terms are left open. 2. A contract without a quantity term is valid. X A sale is not necessary to trigger the provisions of Article 2. 4. A contract for services is specifically covered by the UCC. 5. Whether there has been an offer is determined by a subjective standard. 6. A says to B: "I am going to sell my car for $2,000." B says: "I accept, here is my check." There is a contract. 7. Offers made in jest are always invalid. 8. B agrees to buy all of her requireinents from S. S agrees. The contract fails for lack of a definice quantity term. 9. A writes to B: "I will offer you 520 a week if you will give violin lessons to my son. You have 30 days in which to reply to this offer." B is still thinking about it when A purports to revoke 15 days later. B can nonetheless accept. 10. When an offeree learns from a third party that the offeror has sold the goods. the offer is re. voked. 11. The modern view is that once the offeree of a unilateral contract begins to perform, the offeror may not revoke his promise. 12. An offer cominues until there is an express revocation of the offer. 13. A offers to sell his watch to B for $100.8 says she will take it for 575. B may later accept the offer for $100. 14. A offers to sell his watch to B for $100. B gives A S5 to keep the offer open. A may not revoke. 15. Under the UCC, a non-merchant may make her offer irrevocable without consideration. 16. In general, an offeree must affirmatively convey his or her intention to accept an offer to enter in to a bilateral contract. 17. A says to B: "If you paint my house, I will give you S100." B promises to paint A's house. There is a contract. 18. At common law, an offeree may request additional terms in accepting the offer. 19. Merchant S accepts Merchant B's offer with an additional clause providing for reasonable in terest for overdue invoices. The additional cause is part of the contract. 20. Revocation of an offer sent by mail is effective upon receipt. 21. Har yined for forbearance of a legal right will constitute consideration 22. agrees to buy a house offered by Sir I gets a bank loan. There is a contrnet. 23. promise to do what the promisor is legally obligated to do, but has indicated will not be done, is valid consideration. 24. Promissory estoppel requires justifiable reliance. is. Under the UCC, a seal has no effect. 26. An agreement for a one year lease, to begin one month after the agreement, must be in writing. 27. A buyer who receives and accepts goods worth any amount must pay the price in the agreement is 18. A and B enter into an oral agreement under which A agrees to assign to the rights to all future revenue from his movie in retum for a promise from B to pay him 53.000. A alterwards refuses to to drough with the deat, in view of the fact that is revenue is greatly in excess or 53,000. B will be successful iflic sucs for breach of contract. oral

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 General Management Questions!