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Rejection of an offer terminates it.

TRUE

An acceptance must adhere exactly to an offer to create a contract

TRUE

Under the mailbox rule, an acceptance is not valid until it is received

FALSE

For consideration to have "legally sufficient value" it must consist of goods or money.

FALSE

A businessperson who sells a business in reliance on promises by another is not entitled to damages under the doctrine of promissory estoppels'

FALSE

All contracts between adults and minors are void

FALSE

A contract is unenforceable if there is a statue that prohibits the action promised by the contract

TRUE

Adhesion contracts are often held to be contrary to public policy.

TRUE

Overestimating the value of an object is a mistake for which a court will normally provide relief.

FALSE

A statement of opinion is generally subject to a claim of fraud.

FALSE

An experts false statement to a naïve buyer about a technical detail will not usually entitle the buyer to rescind a contract

FALSE

Intent to deceive is an element of fraud

TRUE

Under the statue of frauds, a contract that is not in writing is void

FALSE

a contract that by its own terms cannot be performed within a year must be in writing to be enforceable

TRUE

Parol evidence includes oral evidence that is a written contract and not incorporated into the expressly or by reference.

TRUE

An integrated contract is a contract with more than one subject or part.

FALSE

A transfer of contract rights to a third party is an assignment

TRUE

Privity of contract is the principle under which contracting parties along traditionally had rights and liabilities under their contract

TRUE

An incidental beneficiary can sue directly to enforce a promisee's promise

FALSE

Compensatory damages compensate the nonbreaching party for injuries or damages sustained by that party

TRUE

A party seeking to recover in quasi contract must show that he or she acted without reasonably expecting to be paid.

FALSE

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