Liberty BUSI 301 Connect Homework Chapter 6 Answers Complete Solutions
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Match the elements with the descriptions. Proper age and mental competence, An offer and acceptance, A bargained-for exchange of goods or services
Match the appropriate situation with the classification of contract. promise to pay Sue $50 in exchange for washing his car, Rebeca orders food from a waiter at a restaurant
Match the appropriate description with the classification of contract. Created when parties knowingly and intentionally agree to promises and performances, Created by the parties actions
Which of the following are true regarding quasi-contracts? (Check all that apply/)
Generally, a(n) mistake is not a valid reason to avoid a contract.
the mirror image rule applies to contracts – not contracts.
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Although contracts are important for lawyers, they are not very important for business owners.
Contracts have been enforced since at least the __.
Which of the following statements are true regarding contracts?
Oral agreements are __ enforceable as contracts.
A potential buyer of real estate offers to purchase an office building from the current owner for a price of $300,000. This promise is exchange for a promise creates a __ contract.
Which of the following best describes a unilateral contract?
A __ contract is one in which the terms and conditions are found in the actions of the parties.
The law enforces an agreement to avoid unjust enrichment of one party at the express of another in a __.
Which of the following subjects would likely be governed by state common law?
Which of the following subjects would likely be governed by statutory law?
A __ contract is one which involves both goods and services.
Which of the following are not elements of a contract?
Most advertisements appearing in the mass media, in store windows, or in display cases are
So long as the offer has __, the offeree may accept the terms of the offer, thereby forming an agreement.
List all the ways an offer can be terminated by the parties.
Under the __ rule, any deviation from the original offer results in a rejection and __.
If the offeror has not set a time limit, on the offer, the offer will still expire after
The __ rule governs __ contracts and is a rule that determines when a contract is considered to be deemed accepted by the offeree.
In addition to the existence of an agreement between parties to a contract, the agreement must be supported by __ or something of value bargained for in the agreement.
Which of the following is most likely to violate the requirement of legality?
Which of the following best describes a bilateral contract?
An offer of a reward is an example of a promise in exchange for a performance. This is called a __ contract.
A __ contract is one in which all the terms and conditions are spelled out between the parties.
Quasi-contracts are often referred to as being implied in law.
Which of the following are considered in determining the source of law for a hybrid contract?
Which of the following statements are true regarding the Uniform Electronic Transactions Act (UETA)?
Another way of stating mutual assent is for the parties to have __ and agree to be bound by certain promises and obligations.
