Business Law Exam 2 Questions

The __ states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties - ansObjective Theory of contracts According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by the - ansReasonable person standards A contract is ___ if the offeror's promise is answered with the offeror's promise of acceptance. - ansBilateral A contract is ___ if the offeror's offer can be accepted only by the performance of an act by there offeree - ansUnilateral Yvonne find a carpenter to do some repairs for her house and tells him that if he finishes the job within Saturday, she would pay him $1000. This offer creates a(n) ____ contract. - ansUnilateral An offeror uses blackmail to make an offeree sign a contract that involves the sale of the offeree's house. The contract is ____ - ansVoidable If a contract is required to be in writing under the Statute of Frauds but is not, the contract is - ansUnenforceable contract A contract that has been fully performed on both sides is called an ___ contract - ansexecuted Contracts that have been fully performed by one side but not the other are classified as ___ contracts. - ansExecutory