Question

30. "I will sell you my car for $5,000," says A. "I will pay $4000" says B. The offer to sell for $5,000 has been terminated.

Group of answer choices

True

False

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Question 312 pts

31. In a unilateral contract, the consideration for the promise is:

a. the surrender of a claim against the promisor.

b. the returning of the promisor's property.

c. a promise to do the act called for by the promisor.

d. the doing of the act called for by the promisor.

Group of answer choices

a.

b.

c.

d.

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Question 322 pts

32. Usually, the acceptance of an offer is legally effective when the acceptance is sent.

Group of answer choices

True

False

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Question 332 pts

33. In most cases, consideration will result in a benefit to the promisor and imposition of some burden or detriment to the promisee.

Group of answer choices

True

False

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Question 342 pts

34. An essential element of promissory estoppel is:

a. a promise based on past consideration.

b. a conditional promise.

c. substantial detrimental reliance by the promisee.

d. a promise based on a moral obligation.

Group of answer choices

a.

b.

c.

d.

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Question 352 pts

35. Joe contracts with Phil to set fire to Joe's warehouse so he can collect the insurance money, but then Joe refuses to pay Phil for his work. This contract is unenforceable.

Group of answer choices

True

False

Answer 1

Ques 30 TRUE

Since B does not accept offer of A at $5000 and instead gives a counter offer of $4000, this means the initial offer by A will not be accepted and hence terminated.

Ques 31 ) Part d. the doing of the act called for by the promisor.

The consideration for promise is an act by the promisee.

Ques 32) TRUE

The acceptance is legally effective once it has been sent, either by verbal method or non-verbal(like written) method of communication.

Ques 33) FALSE

A consideration makes both the parties stand at equal levels. Both parties would stand benefitted or at equal level of gain/loss in giving consideration.

Ques 34) c. substantial detrimental reliance by the promisee.

The promisory estoppel has a substantial detrimental reliance by the promise as its base consideration.

Ques 35) True

The contract was illegal in the first place as the contract demanded for execution of an illegal activity

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