Question

18) Oxtron, Inc. sent the following price list to its customers.

Beverage Dispensers

SBC-500J--------$670.00

True TDD-1-----$875.00

True TDD-2---- $1,465.00

True TDD 3-----$1,515.00

CO2 Tank and Regulator------$150.00

Which statement is correct?

	a.	Price quotes are generally offers
	b.	Price quotes are generally not offers
	c.	Price quotes are generally output contracts
	d.	Price quotes are generally requirements contracts

19) Consideration can be a promise or an act.

True

False

20) The courts will find an implied contract when:

	a.	there is quantum meirut
	b.	the conduct of the parties indicate they intended an agreement
	c.	there is promissory estoppel
	d.	there is undue influence

22) Police Officer Paul apprehends a wanted criminal and then demands the $10,000 reward offered by Crime Stoppers. Which of the following statements is true?

	a.	Police Officer Paul is not entitled to the reward becausee past consideration is never valid consideration
	b.	Police Officer Paul is entitled to the reward because he puts his life on the line every day
	c.	Police Officer Paul is not entitled to the reward because he was under a pre-existing duty to make the arrest
	d.	Police Officer Paul is not entitled to the reward but may have an argument under promissory estoppel

23) One purpose of contract law is to make business matters more predictable.

True

False

Answer 1

Question 1: Oxtron, Inc. sent the following price list to its customers.
Beverage Dispensers
SBC-500J $670.00
True TDD-1 $875.00
True TDD-2 $1,465.00
True TDD-3 $1,515.00
CO2 Tank and Regulator $150.00

Answer: Price quotes are generally not offers

Snippets: Price quotes are documents which a seller issue to its customer or buyer. It contains various prices incured for the agreed goods or product. And a price quote doesn't include an offer or a discount.

Question 2: Consideration can be a promise or an act.

Answer: True

Snippets: Consideration is an act of contemplation or take into account. Or in a simple words is a promise to look into.

Question 3: The courts will find an implied contract when:

Answer: Conduct of the parties indicates they intended an agreement.

Snippets: The intended contract is an intension to create legal relations between both the parties who are intended to be legally bounded.

Question 4: Police Officer Paul apprehends a wanted criminal and then demands the $10,000 reward offered by Crime Stoppers. Which of the following statements is true?

Answer: Police Officer Paul is not entitled to the reward because he was under a pre-existing duty to make the arrest.

Snippets: Generally police officers or any public servants are not entitled to receive any reward which is offered for federal work.

Question 5: One purpose of contract law is to make business matters more predictable.

Answer: True

Snippets: The contract law came into existence to govern an agreement which is enforceable by law.