GOVT 404 QUIZ 1 practice exam

questionswith answers latest 2021

brain test solution

Question 1

5 out of 5 points

Which of the following is not a necessary element for a

firm offerunder the Uniform Commercial Code?

Selected Answer:

Some consideration from the offeree.

• Question 2

5 out of 5 points

Renata writes an offer to sell real estate to Max. She

puts the offer in an envelope and mails it to Max’s

office. Max opens the envelope, reads the letter, and

decides that he will accept the offer. He then

exclaims, there, alone in his office: “I’m going to buy

Renata’s property! Yes!” Next, he writes out a note on

Renata’s letter, as follows: “I accept.” He then signs

his name below his note. Last, Max puts the letter in

an envelope and mails it back to Renata, who receives

it two days later. When was Max’s acceptance

effective?

Selected Answer:

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The moment he mailed the acceptance to Renata.

• Question 3

5 out of 5 points

Rudolph and Bonita meet to discuss a contract for

Rudolph to designa new living room in Bonita’s home.

Rudolph looks at the house, sketches out some ideas,

and says he will provide her with detailed design plans

if Bonita will pay him $3,500 once the plans are

complete. Bonita, intending to make a contract, shakes

Rudolph’s hand and indicates that she “can’t wait” to

see his designs. Choose the best answer:

Selected Answer:

Bonita’s subjective intent to make a contract is not significant,

because acourt will test assent objectively.

• Question 4

0 out of 5 points

Alexis and Rollie enter into an option contract. The

option allows Alexis until Friday, February 17, at 5:00

p.m. to respond to Rollie’soffer to sell Alexis 500 shares

of his stock in Rollie Corporation for

$35,000. Alexis meets with family members to discuss

the investment opportunity. After getting wise counsel

on whether she should buy the stock at that price, she

decided to exercise her option and buy the stock. On

February 16, she writes a letter to Rollie, indicating her

willingness to pay $35,000 for the stock, and encloses a

check in the amount of $35,000. She puts the letter and

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