Week Two Instructor Top Ten List
BUSA 3276 – Contracts Top Ten
1. Sales of ______ are governed by Article 2 of the Uniform Commercial Code. p. 370
2. The person who makes the offer is known as the _____, while the person(s) who receives the offer is known as the ______. p. 380
3. Courts have generally held that advertisements for the sale of goods are/are not offers. (circle answer) p. 381
4. Under the UCC, courts can give great weight to industry custom and parties’ relationship in the past, also known as _______. p. 384
5. When an offeror takes back the offer, this is known as _______, and must be done prior to acceptance by the offeree. p. 384
6. If the offer doesn’t have an explicitly stated ending time, when does it end? __________. p. 391
7. Although contracts can often exist on the basis of an oral promise, certain contracts must be in writing to be enforceable. These contracts are identified under each state’s _____ . p. 397
8. __________ lack capacity to contract because they may not be able to bargain effectively with older, more experienced persons. Under some circumstances, they can disaffirm their contracts during their incapacity. p. 412
9. _____ damages are damages that are set in amount and agreed upon in advance as a part of the contract itself (i.e. per day charge for contractor missing scheduled completion deadline). p. 440
10. A ______ contract is a contract in which the offeree pays the offeror for the time needed to consider the offer. p. 384
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