Question

1) Which of the following is not a requirement for an offer to be effective? Select one: a. The offeror must have a serious intention to become bound by the offer. b. The terms of the offer must be reasonably certain, or definite, so that the parties and the court can ascertain the terms of the contract. c. The offer must be communicated to the offer. d. They are all required for an offer to be effective.

20 Which of the following is an offer? Select one: a. Hedva walks into the Ferrari Dealership and says, “I am going to buy a car.” b. Lucy says to Zehmer “I bet you wouldn’t sell this house for $50,000.” c. Bruo says, “I will pay $25 for this book.” d. "This car isn't worth what you're charging.

3) Which of the following would not be included in a definite offer? Select one: a. Signatures b. Time of performance. c. Identification of the subject matter. d. Identification of the parties. e. The consideration to be paid.

4) In which of the following is intent to make an offer lacking? Select one: a. Expressions of opinion. b. Statements of future intent. c. Preliminary negotiations. d. Advertisements and auctions. e. None of these are expressions of intent to make an offer.

5) Which of the following will not terminate an offer? Select one: a. The subject of the contract becomes illegal. b. Death f the offeror or offeree. c. An Option Contract. d. destruction of the subject matter.

Answer 1

1). The offer to be effective needs certain requirements as:-  communication, commitment and definite terms.

The correct option is (d).

d. They are all required for an offer to be effective.

2). The correct option is (c).

Bruo says, “I will pay $25 for this book.”

because we see there are three elements communication, his committment and definite terms.

3). The correct option is (b).

b. Time of performance.

It must have the intent to be an offer. Next, it must be sufficiently definite. This means that the offer must identify the goods or services offered, it must provide definite terms of the offer (such as price, quantity, etc.), and it must indicate who specifically can accept the offer.

4). The correct option is (e).

e. None of these are expressions of intent to make an offer.

5). The correct option is (d).

d. destruction of the subject matter.

Termination of Offer. Offers may be terminated in any one of the following ways: Revocation of the offer by the offeror; counteroffer by offeree; rejection of offer by offeree; lapse of time; death or disability of either party; or performance of the contract becomes illegal after the offer is made.

Hope you got the answer.

kindly comment for further explanation.

Thanks!