Business Law Text And Cases Legal, Ethical Global And Corporate Environment 12th Edition By Kenneth – Test Bank

TRUE/FALSE QUESTIONS

A1. An agreement is evidenced by a single event: an offer.

ANSWER: F PAGE: 222 TYPE: N
NAT: AACSB Analytic AICPA Legal

A2. An offeror must have a serious intention to become bound by the offer.

ANSWER: T PAGE: 222 TYPE: N
NAT: AACSB Analytic AICPA Legal

A3. An invitation to negotiate—“can you afford this?”—is an offer.

ANSWER: F PAGE: 224 TYPE: =
NAT: AACSB Analytic AICPA Legal

A4. An expression of opinion—“your customers will like this”—is an of¬fer.

ANSWER: F PAGE: 224 TYPE: =
NAT: AACSB Analytic AICPA Legal

A5. An advertisement—“this property for sale”—is an offer.

ANSWER: F PAGE: 224 TYPE: =
NAT: AACSB Reflective AICPA Legal

A6. A statement of future intent—“I plan to sell my 700-pound sow”—is an offer.

ANSWER: F PAGE: 224 TYPE: N
NAT: AACSB Reflective AICPA Legal

A7. A counteroffer does not terminate but continues an offer.

ANSWER: F PAGE: 230 TYPE: =
NAT: AACSB Analytic AICPA Legal

A8. An offeree’s power of acceptance is terminated when the offeror dies unless the offer is irrevocable.

ANSWER: T PAGE: 231 TYPE: N
NAT: AACSB Analytic AICPA Legal

A9. An acceptance subject to new conditions implicitly rejects the offer.

ANSWER: T PAGE: 232 TYPE: N
NAT: AACSB Analytic AICPA Legal

A10. Under the mailbox rule, an acceptance takes effect at the time it is sent.

ANSWER: T PAGE: 232 TYPE: N
NAT: AACSB Analytic AICPA Legal

A11. An acceptance sent by means not expressly or impliedly authorized is not effective until it is received.

ANSWER: T PAGE: 233 TYPE: N
NAT: AACSB Analytic AICPA Legal

A12. If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.

ANSWER: T PAGE: 233 TYPE: N
NAT: AACSB Analytic AICPA Legal

A13. A “sale” of software generally involves only a right to use the software.

ANSWER: T PAGE: 233 TYPE: N
NAT: AACSB Analytic AICPA Legal

A14. A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

ANSWER: T PAGE: 234 TYPE: =
NAT: AACSB Reflective AICPA Legal

A15. State e-signature laws are uniform.

ANSWER: F PAGE: 236 TYPE: =
NAT: AACSB Analytic AICPA Legal

A16. Under federal law, an electronic signature can be as valid as a signature on pa¬per.

ANSWER: T PAGE: 236 TYPE: +
NAT: AACSB Technology AICPA Legal