True/False Indicate whether the sentence or statement is true or false I. A vali

Question

True/False Indicate whether the sentence or statement is true or false I. A valid contract can legally be voided by either party 2. Under the common law, the mirror image rule permitted the offeree's acceptance of a contract to vary to some degree from the offeror's offer 3. A holographic will is a handwritten will signed by the testator 4. Mary goes into Honest Harry's Electronics and purchases a big screen TV. Mary agrees to pay for the TVn 30 days on the store's "30 days same as cash" plan. This is an executory contract 5. Any contract involving a sale of goods of $100 or more must be in writing 6. Generally, silence is not acceptance. 7. If the offer does not specify a type of acceptance, the offeree may accept in any reasonable manner and medium. 8. The UCC does not apply to contracts for the sale of goods if the value of the goods is less than $500 9. Alex promises to pay $100 to anyone who finds his lost watch. Kate finds and returns the watch to Alex after hearing of the reward money. Alex and Kate have an enforceable unilateral contract A person 10. who dies with a will, dies intestate. Amanda, a recent university graduate, needed a car to get to her new job. To help Amanda secure a loan for the car, Ted, a friend, agreed to pay the loan should Amanda default. Ted's promise to pay the loan is a collateral promise. His promise must be in writing to be enforceable. 11. Ill pay you $1,000 if you promise to paint my house this month. If the offeree accepts, this is a unilateral contract. 12. 13· The Uniform Commercial Code applies to almost all contracts. 14. A contract that is voidable is valid until one of the parties takes steps to rescind the contract 15. Property of a person who dies without a will is distributed according to intestacy laws. 16. UCC, Article 2, does not apply to private parties 17. When promissory estoppel is used by the courts, it is because there is NOT an enforceable contract present 18. Advertisements are generally offers 19. April put an advertisement in the newspaper advertising the sale of her computer for $500. Simultaneously six people responded to the ad by mail with formal written acceptances. April is bound on six contracts to sell her computer for $500.

Explanation / Answer

Answer :

1- False

2- True

3- False

4- TRUE

5- False

6 - True

7- False

8- True

9- False

10 - True

11 - True

12 - True

13- False

14- False

15 - False

16 - True

17-False

18-True

19- False

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