Question

BUSINESS LAW

Question 29

There is no real difference between the "essential terms" and the "definiteness of terms" in a contract.

Answers:

True

False

Question 30

A "firm offer" fulfilling the requirements of the Uniform Commercial Code is irrevocable.

Answers:

True

False

Question 31

A valid "firm offer" can only be made by a merchant.

Answers:

True

False

Question 32

Death of the offeror automatically revokes the offer as a matter of law.

Answers:

True

False

Answer 1

Question 29.False( in both offeree is able to decide to accept or reject the offer)

Question 30. True ( because a merchant firm offer the Uniform commercial code provides that the offer can be irrevocable for the period of no more than 3 months)

Question 31. True ( because the firm offer rule is only governed by the Uniform Commercial Code and applies to only the merchant who deals into the sales of goods)

Question 32. True ( Death or incapacity will automatically revokes the offer before it has been accepted,but the revocation must be communicated to the offeree)