5 Written questions
3 Matching questions
- If a contractual promise is not fulfilled, the person who made it may be required to perform the promised act.
- Livewire Company and McCoy's Candy, Inc., sign a document that states Livewire agrees to design a Web page for McCoy's, which agrees to pay for the service. This is
- T/F? An offer does not need to be communicated to the offeree to become effective.
- a T
- b F
- c an express contract
5 Multiple choice questions
5 True/False questions
Mariah promises to pay her assistant Nadine $10,000 in consideration of the services she provided over the years. Mariah never pays Nadine. Mariah is → not liable, because the consideration is in the past
T/F? A contract is valid only if both of the parties entering into it have the capacity to do so. → F
Pastry Dough, Inc., sends its catalogue to Octavio and includes a "personalized" letter inviting him to buy any item in it at the advertised price. This is → T
Rollo promises to perform, for a price, shoe repair services in affiliation with Togs 'n Things, a clothing store. To support a contract, the consideration exchanged by the parties must be → inside a box in which goods are packaged.
T/F? The only requirement for a valid contract is that the parties voluntarily entered into it. → T