Eth 321 Week 3 Knowledge Check Study Guide

ETH 321     Week 3 Knowledge Check Study Guide
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1-In which case is an offer irrevocable?
When the offeree has not made any preparations before accepting the offer
When the offeree has partly acted upon the offer
When the offer is not in the form of an option contract
When the offeree’s response contradicts the offer even minimally

2-What does the mailbox rule, in the context of common law contracts, state?
An offeror cannot revoke his or her offer under any circumstance.
An offeror must receive a written document of acceptance by the offeree in order for an offer to be considered accepted.
An offeree is said to have accepted an offer as soon as he or she dispatches the acceptance
An offeree can use any method of acceptance, even if it has not been specified by the offeror.

3-Which of the following meets the consideration requirement of contracts?
When a promiser pledges to perform a legal duty
When a promisee gives up a legal right
When a promiser gifts a property of high value to someone
When a promisee provides a gift for a favor done in the past

4-When does fraudulent misrepresentation occur in the context of contracts?
When one party to a contract unintentionally fails to notice an error in the express terms of the contract
When one party to a contract knowingly provides only puffing and not facts in the contract
When one party to a contract knowingly distorts a material fact in the contract
When one party to a contract unintentionally conceals one of the facts in the terms of the contract

5-Mr. Sanchez is a 70-year-old man with Parkinson’s disease. Jennifer, a full-time nurse, has been taking care of him for over four years. Mr. Sanchez depends on Jennifer and considers her to be a trustworthy caregiver. However, Jennifer informs Mr. Sanchez that she can no longer be his caregiver unless he...