Example of valid contract according to common law

Assignment Help Operation Management
Reference no: EM132198309

1. Which of the following is an example of a valid contract according to common law?

Bob offers to sell either of his bikes, red or blue, to Sam the coming Monday, to which Sam agrees. On Monday, Bob sells his blue bike to Sam and asks for $1,500 in return.

Bob offers to sell either of his bikes, red or blue, to Sam the coming Monday, to which Sam agrees to pay $1,000 or $1,200 for the blue bike. On Monday, Bob asks Sam to pay $1,200 for his red bike.

Bob offers to sell either of his bikes, red or blue, to Sam for $1,000 the first Monday of the month, to which Sam agrees. On the second Monday of the month, Sam asks Bob to sell both his bikes for $1,000.

Bob offers to sell either of his bikes, red or blue, for $1.000 to Sam the coming Monday, to which Sam agrees. Bob also asks Sam, as part of the deal, not to buy a bike during the weekend. Sam goes out of town for the weekend and buys a bike for $700. Bob asks Sam to pay him $1,000 for his bike on Monday.

Bob offers to sell either of his bikes, red or blue, to Sam the coming Monday for $1,000, to which Sam agrees. On Saturday Bob goes to race dirt bikes on his red bike; due to a minor collision, the red bike's brakes stop working. On Monday, however, he offers the blue bike to Sam, who was out of town for the weekend.

2. Enforceability is the degree to which agreement is manifest to those not party to it.

True

False

3. Unsaved A legal consideration always has to be certain.

True

False

4. A(n) _____ is a UCC option made in writing and signed by a merchant, promising to keep an offer open and that needs no consideration.

mirror image rule

option contract

definiteness

firm offer

mailbox rule

Reference no: EM132198309

Questions Cloud

Considered an example of valid contract : Which of following would be considered an example of a valid contract?
Calculate the net cash provided by financing activities : Dividends paid to preferred stockholders 402000. Calculate the net cash provided by financing activities during 2018
Discuss which proposal is best and why based on analysis : Discuss why you did not select the other two proposals as best based on your analysis. Discuss which proposal is best and why based on your analysis.
What was the net cash provided by operating activities : Loster Company reported a net loss of $14,104 for the year ended December 31. What was the net cash used for or provided by operating activities
Example of valid contract according to common law : Which of the following is an example of a valid contract according to common law? Unsaved A legal consideration always has to be certain.
What you believe is the most important lesson to be gleaned : In a 1-2 page essay detail what you believe is the most important lesson to be gleaned from this incident.
Compute the markup percentage on total cost : Magpie Corporation uses the total cost concept of product pricing. Compute the markup percentage on total cost for the company's product
Evaluate change management validity tools : Identify and evaluate change management validity tools.
Short term or long-term impact on culture of organization : s the culture of organization created top-down or bottom-up? Do the founders of company have short term or long-term impact on the culture of organization.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd