BUS 250 CHAPTER 11 QUESTIONS WITH VERIFIED
ANSWERS
meeting of the minds - Answers - The parties can form a contract only if they have a
meeting of the minds, which requires that they understand each other and show that
they intend to reach an agreement.
offer - Answers - An offer is an act or statement that proposes definite terms and
permits the other party to create a contract by accepting those terms.
other statement - Answers - Invitations to bargain, price quotes, letters of intent, and
advertisements are generally not offers. However, an ad in which a company proposes
to take a specific action when a customer takes a specific action can amount to an offer.
And letters of intent that indicate the parties intended to be bound can also count as
offers.
Definiteness - Answers - The terms of the offer must be definite, although under the
UCC the parties may create a contract that has open terms.
termination - Answers - An offer may be terminated by revocation, rejection, expiration,
or operation of law.
Mirror Image Rule and UCC §2-207 - Answers - The common-law mirror image rule
requires acceptance on precisely the same terms as the offer. Under the UCC, an
offeree may often create a contract even when the acceptance includes terms that are
additional to or different from those in the offer.
clickwraps - Answers - Clickwrap and shrinkwrap agreements are generally
enforceable.
manner of acceptance - Answers - If an offer demands acceptance in a particular
method or manner, the offeree must follow those requirements. If the offer does not
specify a type of acceptance, the offeree may accept in any reasonable manner and
medium.
mailbox rule - Answers - An acceptance is generally effective upon dispatch, meaning
from the moment it is out of the offeree's control. Terminations usually are not effective
until received.
Which of the following is NOT how an offer can be accepted - Answers - An offereecan
accept the offer by doing nothing in all cases
ANSWERS
meeting of the minds - Answers - The parties can form a contract only if they have a
meeting of the minds, which requires that they understand each other and show that
they intend to reach an agreement.
offer - Answers - An offer is an act or statement that proposes definite terms and
permits the other party to create a contract by accepting those terms.
other statement - Answers - Invitations to bargain, price quotes, letters of intent, and
advertisements are generally not offers. However, an ad in which a company proposes
to take a specific action when a customer takes a specific action can amount to an offer.
And letters of intent that indicate the parties intended to be bound can also count as
offers.
Definiteness - Answers - The terms of the offer must be definite, although under the
UCC the parties may create a contract that has open terms.
termination - Answers - An offer may be terminated by revocation, rejection, expiration,
or operation of law.
Mirror Image Rule and UCC §2-207 - Answers - The common-law mirror image rule
requires acceptance on precisely the same terms as the offer. Under the UCC, an
offeree may often create a contract even when the acceptance includes terms that are
additional to or different from those in the offer.
clickwraps - Answers - Clickwrap and shrinkwrap agreements are generally
enforceable.
manner of acceptance - Answers - If an offer demands acceptance in a particular
method or manner, the offeree must follow those requirements. If the offer does not
specify a type of acceptance, the offeree may accept in any reasonable manner and
medium.
mailbox rule - Answers - An acceptance is generally effective upon dispatch, meaning
from the moment it is out of the offeree's control. Terminations usually are not effective
until received.
Which of the following is NOT how an offer can be accepted - Answers - An offereecan
accept the offer by doing nothing in all cases
