Question 1

Identify the source of a competing analysis of the traditional common law view of unenforceability of a gratuitous promise.Provide a brief explanation of the competing analysis and explain the goal it was meant to achieve.

Accepted Answer

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Question 2

Briefly describe the options available to a party to a contract who wishes to avoid problems related to cost increases.

Accepted Answer

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Question 3

An offer is automatically terminated when it is rejected by an offeror.

Accepted Answer

An offer is terminated when it is rejected by the offeree, not the offeror. The offeror is the one who makes the offer, while the offeree is the one to whom the offer is made.

Question 4

While contract law normally requires that the parties provide consideration in order to render an agreement enforceable,the law is less concerned about the adequacy of the consideration provided by each party.What is the rationale for each of these seemingly conflicting principles?

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Question 5

Identify and briefly describe what element is recognized as forming the basis of a contract in common law.Include a brief explanation of what is meant by the legal requirement of certainty of offer and identify and briefly described the circumstances under which a court would endeavour to resolve ambiguities in an alleged offer.

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Question 6

Where an agreement reached through offer and acceptance contains the phrase "this agreement is subject to formal contract," the agreement itself is unenforceable unless and until the formal contract comes into existence.

Accepted Answer

The phrase "this agreement is subject to formal contract" indicates that the parties intend to be bound only upon the execution of a formal contract, making any prior agreement unenforceable until such a formal contract is finalized and signed.

Question 7

An offer without a stated deadline will not expire until it is expressly revoked by the offeror.

Accepted Answer

An offer without a stated deadline can expire due to lapse of a reasonable amount of time, rejection by the offeree, counteroffer by the offeree, incapacity or death of either party, or changes in law or circumstances that make the contract illegal or impossible to perform, in addition to being expressly revoked by the offeror.

Question 8

Identify and briefly describe six ways that an offer can be terminated.

Accepted Answer

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Question 9

How do the courts get around the basic rule that a gratuitous promise is not enforceable if they feel that not enforcing such a promise would be unfair? Identify and briefly describe the requirements for this "get around."

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Question 10

Explain the specialized rules of offer and acceptance that govern the tendering process.

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Question 11

How has statutory law modified the common law treatment of partial payment of a debt?

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Question 12

Revocation may be communicated through a reliable third-party source.

Accepted Answer

Revocation of an offer can be effectively communicated through a reliable third-party source, as long as the offeree becomes aware of the revocation from a source they find trustworthy.

Question 13

Provide a legal analysis of a typical retail transaction,discussing offer,acceptance,consideration,and intention.

Accepted Answer

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Quiz 6: Forming Contractual Relationships