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BUS 311 Week 2 Quiz

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Week 2 Quiz

:

Katrina is complaining to her landlord about the six-inch long cockroaches in her apartment. The landlord scoffs, saying: “Cockroaches don’t get that big! I'll pay $10,000 to anyone who can show me a six-inch cockroach.” Will, a bug collector, overhears and promptly presents the landlord with his prize six-inch South American cockroach. The landlord refuses to pay, and Will sues. Which of the following best describes the situation?

2.

Question :

Merlin posts his car for sale. Breanna calls and leaves a voicemail, saying, “Hey, I definitely want to buy your car! I’ll pick it up tomorrow, okay?” Which of the following best describes the situation?

3.

Question :

Delta Inc. offers to sell Omega Corp. a packaging machine. Omega responds “We’ll take it but only if there is a six-month warranty.” Which of the following is true?

4.

Question :

Seller agrees to supply all the gasoline Buyer needs for the next year at $3.00 per gallon. After three months, the price of gas falls to $2.33 per gallon. Buyer refuses to keep buying from Seller unless Seller lowers the price. Seller agrees. Two months later, the average price for gas goes up to $3.50 per gallon. Seller asks Buyer to agree to a price raise, but Buyer refuses. Which of the following is true?

5.

Question :

Daniel offers to sell his Toyota Camry to Jen for $8,000. Jen replies, “I accept. Make sure you wash and wax the car before you bring it over.” Which best describes the situation?

6.

Question :

Consideration is

7.

Question :

A simple contract need(s) to

8.

Question :

Alpha orders 100 Grade A widgets from Beta. Beta does not have any Grade A widgets in stock, so it ships Alpha 100 Grade B widgets instead. Which of the following is true?

9.

Question :

If an offeree attempts to add different terms in an acceptance, which of the following conflict with what the offeror stated?

10.

Question :

Peter, an art dealer, offers to sell a painting to Ben, a teacher, for $200. Ben responds, “I accept. I want it in a red frame, like the one I saw on that other painting at your gallery, so it will match my sofa.” Peter and Ben

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