• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

Card Range To Study



Play button


Play button




Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

4 Cards in this Set

  • Front
  • Back
Tarjay, a retail chain, asked Louis to fix a broken window at one of Tarjay's stores. Louis offered to make the repairs within 3 days at a price to be agreed on after the work was completed. A contract based on L's offer would fail because of indefiniteness as to the

a) price
b) nature of the subject matter
c) parties to the K
d) time for performance
A) Price

Under common law, an offer must be definite and certain as to what will be agreed upon.

1) price
2) time of performance
3) subject matter (qty & type)
On December 10, Toyota placed an ad in the newspaper stating that Toyota would see 10 cars at its showroom at a discount only at the end of the year. Toyota sold all 10 cars already when B demanded the right to buy a car at a discount. B sued Toyota for breach of K.
Toyota's best defense to B's suit:

a) offer was enforceable
b) advertisement was not an offer
c) tv announcement revoked the offer
d) offer had not been accepted
b) advertisement was not an offer

advertisements are invitations for parties to make an offer
On Oct 1st, DeDe offered to sell a used sewing machine to BeBe for $100. Dede specified that Bebe had until Oct 20th to accept the offer. On Oct 16th, Bebe received an offer from Nona for $150. One Oct 17th, Bebe saw Nona using the sewing machine. Bebe wrote to Dede right away to accept the Oct 1st offer. Which of the following is correct?

a) Bebe's acceptance would be effective when received by Dede.
b) Bebe's acceptance would be effective when mailed
c) Dede's offer had been revoked and Bebe's acceptance was ineffective
d) Dede was obligated to keep the Oct 15th offer open until Oct 20.

Dede can revoke her offer at any time prior to acceptance by the offeree. Revocation is effective when received by offeree. In this case, Bebe found out that the offeror has already sold the sewing machine to Nona. T/4, Bebe's acceptance is ineffective.
**If Bebe paid her consideration ($ or services) to keep the offer open, then an option K would exist and could not be revoked before the stated time.
Kate offered to sell her loft to me for $500K. I ask her if she would take $450K. Which of the folliowing is TRUE?

a) My response is a mere inquiry; t/4 the offer $500K by Kate is still in force.
b) My response is a counteroffer
c) My response is a rejection of the $500K and instigating an offer of $450K.
d) Because of the ambiguity, both offers are terminated by operation of law
a) K's $500 offer is still in force

I was only asking if Kate might consider selling the home for less.
b) counteroffers are when the original offer is rejected and a new offer takes place. (Kate has to make a new offer if I reject her $500 and said no way)
c) I didn't intend to reject the offer I was just asking - mere inquiry
d) ambiguity has nothing to do with termination by operation of law