31 May BUS 311 Week 2 Quiz
1. Katrina is complaining to her landlord about the six-inch long cockroaches in her apartment. The landlord scoffs, saying: “Cockroaches don’t get that big! I’ll pay $10,000 to anyone who can show me a six-inch cockroach.” Will, a bug collector, overhears and promptly presents the landlord with his prize six-inch South American cockroach. The landlord refuses to pay, and Will sues. Which of the following best describes the situation?
2. Merlin posts his car for sale. Breanna calls and leaves a voicemail, saying, “Hey, I definitely want to buy your car! I’ll pick it up tomorrow, okay?” Which of the following best describes the situation?
3. Delta Inc. offers to sell Omega Corp. a packaging machine. Omega responds “We’ll take it but only if there is a six-month warranty.” Which of the following is true?
4. Seller agrees to supply all the gasoline Buyer needs for the next year at $3.00 per gallon. After three months, the price of gas falls to $2.33 per gallon. Buyer refuses to keep buying from Seller unless Seller lowers the price. Seller agrees. Two months later, the average price for gas goes up to $3.50 per gallon. Seller asks Buyer to agree to a price raise, but Buyer refuses. Which of the following is true?
5. Daniel offers to sell his Toyota Camry to Jen for $8,000. Jen replies, “I accept. Make sure you wash and wax the car before you bring it over.” Which best describes the situation?
6. Consideration is
7. A simple contract need(s) to
8. Alpha orders 100 Grade A widgets from Beta. Beta does not have any Grade A widgets in stock, so it ships Alpha 100 Grade B widgets instead. Which of the following is true?
9. If an offeree attempts to add different terms in an acceptance, which of the following conflict with what the offeror stated?
10. Peter, an art dealer, offers to sell a painting to Ben, a teacher, for $200. Ben responds, “I accept. I want it in a red frame, like the one I saw on that other painting at your gallery, so it will match my sofa.” Peter and Ben
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