Reference no: EM132195539

True/False

1. The offeree's rejection of an offer terminates it.

MULTIPLE CHOICE

2. Kwon, a real estate developer, mentions to Parker that he plans to sell some property at a price below its market value. Parker gives Kwon a check for the amount that Kwon mentioned. Kwon

A. does not have a contract with Parker, and does not have to accept the check, because he was mistaken about the market value of the property

B. has a contract with Parker

C. does not have a contract with Parker, and does not have to accept the check, because he merely indicated an intent to sell in the future

D. has a contract with Parker, but can rescind it, due to inadequate consideration

3. Which of the following is true about Washington’s law about e-contracts?

A. Washington has adopted UETA.

B. Washington has adopted its own e-signature (digital signature) law.

C. Washington has adopted UCITA.

D. Washington has adopted UETA, UCITA, and its own e-signature (digital signature) law.

4. Kyoto enters into a contract with Denise to cater Denise’s dinner party. Kyoto caters the party, but Denise has not yet paid her. This contract is

A. executory on the part of Denise

B. executory on the part of Kyoto

C. executed on the part of Denise

D. none of the above

5. ABC Contractors begins building an office building for XYZ Corp., in accordance with their contract with each other. One month later, ABC tells XYZ that ABC will need $2 million more to complete the job, because ordinary business expenses have increased. XYZ, anxious to get the building finished, agrees, but later sues ABC for the $2 million over the original contract price. The additional $2 million term in the contract is

A. unenforceable, due to the preexisting duty rule.

B. enforceable, because of unforeseen difficulties.

C. unenforceable, because $2 million extra is unconscionable

D. enforceable, because the parties agreed, and the court will not interfere with their contract