Offer and
Acceptance
Chapter 6
True/False
• 1. The person to whom an offer is made is termed
the offeror.
True/False
• 1. False
True/False
• 2. all contracts have to be in writing to be
enforceable.
True/false
• 2. False
True/False
• A store display of a MP3 player marked $121.00
would be an offer.
True/False
• 3. False
True/False
• 4. the write to withdraw an offer before it is
accepted is known as the right of redemption.
True/False
• 4. False
True/False
• A clear rejection terminates an offer.
True/False
• 5. True
Multiple Choice
• 12. Which of the following is not one of the major
requirements for a contract?
Multiple Choice
• 12. A (offer and accommodation)
Multiple Choice
• 13. Which of the following is not a test that a valid
offer musty pass?
Multiple Choice
• 13. C (Is the offer a Solemn offer and not made in
jest?)
Multiple Choice
• 14. An unaccepted offer may be terminated by?
Multiple Choice
• 14. D (All of these)
Multiple Choice
• 15. Which of the following statements about a firm
offer is untrue?
Multiple Choice
• 15. D (all of the above statements are true.)
Multiple Choice
• 16. Which of the following circumstances might
render an acceptance invalid?
Multiple Choice
• 16. C (The offer is accepted by someone other than
the offeree & the acceptance does not match the
offer.)
Completion
• 33. To be legally enforceable as a contract, the
agreement must involve both sides receiving both
sides receiving something of legal value as a result
of the transaction. This something of value is
labeled?
Completion
• 33. Consideration
Completion
• 34. Individuals who regularly deal in he goods, or
tangible personal property, being bought or sold
are labeled?
Completion
• 34. Merchants
Completion
• 35. After an offer is rejected, unless renewed by the
original _________, the offeree can no longer
accept the original offer.
Completion
• 35. Offeror
Completion
• 38. When the specific subject matter of an offer is
destroyed before the offer can be accepted, the
offer is automatically_________.
Completion
• 38. Terminated
Completion
• Dalia owns a dress shop in town; she purchases
much of the mechandise for her store from
Wholesale Clothiers, Inc. Wholesale offers to sell
Dalia 20 various prom dresses at a price of $65 each
and agrees to keep this offer open for 30 days. Both
parties sign a document agreeing to the timeframe
of the offer. Their agreement is best described as
a(n)____________.
Completion
• 36. Firm Offer