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5 Written questions

5 Matching questions

  1. QTIPS
  2. Insanity
  3. Waiver
  4. Acceptance
  5. Full Performance
  1. a Q: Quantity terms
    T: Time for performance term
    I: Interested parties
    P: Price term
    S: Subject matter
  2. b One relinquishes a known right
  3. c Inappropriate mental state of the offeror or offeree at the time which the offer was made
    Rebuttal only stands if brought up after the fact that performance was fully finished
  5. e The unqualified, unequivocal assent (agreement) to the terms of the offer

5 Multiple choice questions

  1. 1. Expressed
    2. Implied
  2. A change in terms post-contracting
  3. Offer, acceptance, and consideration
  4. Should be excused; compare the quality of the original performance and the actual performance for quality and intentional harm or negligence
  5. Designed to keep an offer open for a stated period of time or a reasonable period of time

5 True/False questions

  1. Auction with ReserveThe auctioneer reserves the right to remove or take back the item at any time prior to acceptance


  2. OfferThe outward manifestation of present contractual intent to be bound by certain and definite terms communicated to the ___ee


  3. Common CarriersHold people accountable for contracts based on the belief that marriage was going to take place


  4. Merchant StatusDoes not fit the merchant status


  5. Mistake of Fact1. Unilateral mistake
    2. Bilateral (mutual) mistake