ABED 2F01 Study Guide - Midterm Guide: Excello Records, Unfair Contract Terms Act 1977, The Moorcock

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sapphirebutterfly521

24 Mar 2017

School

Brock University

Department

Aboriginal Adult Education

Course

ABED 2F01

Professor

All

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Document Summary

Bilateral contract (the two parties exchange promises). Unilateral contract : only one party makes a promise to the other. A contract is made of an agreement and consideration. According to mckendricks a contract is created by an offer made by one party and is accepted by the party to whom the offer was made . This model of contract is criticized because it is considered as too static and because this kind of contract does not correspond to the modern world. But, some authors say that this is a good system because the formation of the contract is rigid, and because the rules are foreseeable for the parties. Here, we will have several questions to deal with. An offer is the expression of the willingness to contract of a party. It is made with the intention to become binding as soon as it is accepted by the person to whom it is addressed.

Related Questions

TRUE or FALSE

1.The UCC requires application of the "mirror image" rule in cases where contracts for the sale of goods are made by exchanging forms.

2.A contract generally comes into existence and becomes binding at the moment the parties have reached an agreement on all material provisions, although they may intend to later write down the terms of the agreement.

3.An acceptance must be in writing.

4.If an authorized means of acceptance is expressly present, any attempt by the offeror to accept by a non-authorized means is effective upon dispatch.

5.A bilateral contract is a promise for a promise.

6. If one or both parties to a form contract are non-merchants, the additional terms proposed by one of the parties are treated as:

	a.	revocation.
	b.	void.
	c.	expressly conditional.
	d.	proposals for addition to the contract.

7. Under the UCC Rule 2-207 for the sale of goods when a contract is made by the exchange of forms, when the acceptance form has terms additional to or different from the offer:

	a.	a contract can result but the differing terms may not be part of the contract.
	b.	no contract will result because the acceptance form will not be considered as a counter-offer.
	c.	a contract can result and the differing terms must be included as part of the contract.
	d.	no contract will result because the acceptance form will be considered as a counter-offer and thus an implicit rejection of the offer.

erineagle120

Choose a, b, c or d.

1. For a communication to be an offer,

a. It must be addressed to one or more specific persons.

b. It must describe the goods and state or provide a means for determining their quantity.

c. It must state or provide a means for determining the price.

d. Both a and b above

2. For an offer to be irrevocable (i.e, to make it a "firm offer"),

a. The offeror must state or imply that the offer is irrevocable

b. The offer must be in writing

c. the offer must be signed

d. All of the above

e. Both b and c above

3. An offer can be made irrevocable (i.e, made a "firm offer") if:

a. It is made by a merchant

b. it is in writing signed by the offeror

c. it is limited in time to no more than 3 months

d. All of the above

e. Both a and b above

4. An offeree may withdraw his acceptance of an offer:

a. any time before it is dispatched

b. any time before it is received

c. simultaneous with its receipt

d. all of the above are true

e. both a and b are true

5. Delta Co. in State D sent an offer by email to Echo Co. in State E on 1st Jan.

On 10th Jan, Echo Co. mailed back a rejection.

On 11th Jan, Echo Co. changed its mind and sent an acceptance in the mail.

On 22nd Jan, the acceptance was received.

On 23 Jan the rejection was received. There was:

a. No contract because the rejection was effective on its dispatch on 10 Jan

b. A contract because the acceptance was effective on its dispatch on 11 Jan

c. A contract because the acceptance was effective on its receipt on 22 Jan

d. No contract because the rejection was effective on its receipt on 23 Jan

e. None of the above

amethysthippopotamus839

INSTRUCTIONS:

Each question should be answered in approximately one to two sentences with the number of the answer corresponding to the number of the question.

FACTS:

Jovial Roger restaurants engaged Air Advertising to fly an advertisement above the San Pedro beaches which offered $1,000 to any person who could swim from the San Pedro beaches to Catalina in less than a day. On Saturday, October 10, at 10:00 AM, Air Advertising flew a sign above the San Pedro beaches that read: Swim to Catalina and Jovial Roger pays $1,000. Upon seeing the sign, Bill dived in. About 5 hours later, when he was halfway to Catalina, Air Advertising flew another sign that read: Jovial Roger revokes its offer.

QUESTIONS:

1. Is this an offer for a bilateral or unilateral contract?

2. Was a contract formed under the traditional view?

3. Can Jovial Roger revoke under the traditional view?

4. Was a contract formed under the modern view?

5. Can Jovial Roger revoke under the modern view?

pucetortoise485

ABED 2F01 Study Guide - Midterm Guide: Excello Records, Unfair Contract Terms Act 1977, The Moorcock

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