Tuesday, January 3, 2017

What was the result in the Opening Case in which the plaintiff attempted to buy a jet from Pepsi for Pepsi points and some additional funds?

Courts interpret contracts using an objective standard. 
TRUE
An "instructed authorization" occurs if the means by which an acceptance can be communicated to the offeror is expressly stated in the offer. 
FALSE
If an acceptance is received after a rejection is received, the acceptance is still valid. 
FALSE
Under the Mailbox Rule, a valid contract has been formed if a rejection is dispatched, but before it is received, the acceptance is communicated to the offeror. 
TRUE
Only the offeree to whom an offer is directed can accept the offer. 
TRUE
Once an offer is made, an offeror has no right to terminate it before receiving a reply. 
FALSE
An offer by a retailer to purchase seasonal goods from a wholesaler would not lapse sooner than an offer to purchase goods that could easily be sold all year long. 
FALSE
There are a limited number of circumstances under which silence can be an acceptance. 
TRUE
If the subject matter of an offer is destroyed, the offer terminates after 10 days or notice of the death to the offeree, whichever comes first. 
FALSE
If an offeree makes a mistake and sends an acceptance to the wrong address, there is an acceptance upon dispatch. 
FALSE
What was the result in the Opening Case in which the plaintiff attempted to buy a jet from Pepsi for Pepsi points and some additional funds? 
A. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi failed to specifically reserve details of the offer to a separate writing.
B. The plaintiff prevailed, and Pepsi had to sell the jet as offered because Pepsi's advertisement was considered an offer which the plaintiff validly accepted.
C. The plaintiff prevailed, and Pepsi had to provide the jet as offered because Pepsi did not revoke the offer soon enough.
D. The plaintiff did not prevail because the jet was unobtainable as a military aircraft.
E. The plaintiff did not prevail because Pepsi reserved the details of the offer to a separate writing, and Pepsi had the authority to reject the plaintiff's offer to purchase.
Which of the following is the first element of a contract? 
A. An agreement
B. An intent
C. An offer
D. An acceptance
E. A writing

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