Question

John runs a small corner shop. He places a sign at the entrance to his shop which states ‗Special: 1 bottle of Coke $2.00‘. Jenny enters the store and says ―I‘ll take the bottle of Coke for $2.00ǁ. Jenny‘s words constitute: a) An offer b) An acceptance c) A misrepresentation d) A breach of contract

John runs a small corner shop. He places a sign at the entrance to his shop which states Special: 1 bottle of Coke $2.00'. Jenny enters the store and says - I'll take the bottle of Coke for $2.0011. Jenny's words constitute: a) An offer b) An acceptance c) A misrepresentation d) A breach of contract 2 Most contracts require consideration, except: a) Contracts which take the form of a Deed b) Contracts where one of the parties dies before the offer can be accepted c) Contracts which the law requires to be in writing d) Contracts formed via the post 3 In order to form a contract, consideration: a) Must always move from the promisee, but not necessarily to the promisor b) Must always move from the promisor to a third party c) Must always move from the promisee to the promisor d) Does not need to move from either party 4 Part payment of a financial debt will not discharge a debt unless: a) The parties get the court to witness their agreement b) There is an additional_something' beneficial to the creditor c) The parties record their undertakings in writing d) The payment is made after the due date for payment 5 An agreement which is entirely oral can: a) Never be a contract b) Be a contract c) Never be a contract unless the parties make specific reference to the term contract' or agreement during their negotiations d) Never give rise to consideration Offers can lapse: a) Due to the passage of time b) Due to the death of one of the parties c) Due to the failure of a condition precedent d) In any of these circumstances

Answer 1

Dear Student,

As per the HOMEWORKLIB POLICY, only the first four questions should be answered. Kindly take note of it.

Part 1

Option B

b. an acceptance

Jenny’s words indicates that he is ready to accept the offer made by the store by displaying products.

part 2

option B

b. contracts here one of the parties dies before the offer can be accepted

offer and acceptance are important element of contract. Here offer is made but acceptance is not given. Therefore, there will be not contract. As there is no contract, no consideration is required.

part 3

option A

a. must always move from the promisee, but not necessarily to the promisor.

There is no contract without consideration. Consideration must move from the promisee but not necessarily to the promisor.

Part 4

Option B

b. There is an additional something beneficial to the creditor

Until there exists something beneficial to the creditor, the part payment of a financial debt will not discharge a debt.