A statement that is valid according to lawofcontract will be termed true while an invalidone is termed false.
<h3>Validity of the statements</h3>
Under the UCC, a contract will generally fail because one or more terms are left open, (TRUE)
A contract without a quantity term is valid. (TRUE)
A contract for services is specifically covered by the UCC. TRUE
Whether there has been an offer is determined by a subjecive standard. TRUE
A says to B: "I am going to sell my car for $2,000." B says: "I accept, here is my check." There is a contract. TRUE
Offers made in jest are always invalid. FALSE
B agrees to buy all of her requirements from S. S agrees. The contract fails for lack of a definite quantity term. TRUE
A writes to B: "I will offer you S20 a week if you will give violin lessons to my son. You have 30days in which to reply to this offer." B is still thinking about it when a purporis to revoke 15days later. B can nonetheless accept. TRUE
When an offeree learns from a third party that the offeror has sold the goods. the offer is re-voked. TRUE
The modern view is that once the offeree of a unilateral contract begins to perionin, the offeror may not revoke his promise. FALSE
An offer continues until there is an express revocation of the offer. TRUE
A offers to sell his watch to B for 100. B says she will take it for 575. B may laier accept the offer for S100. TRUE
A offers to sell his watch 10 B for $100.1 gives a 55 to keep the offer open. A may not revoke. TRUE
Under the UCC, a non-merchant may make her offer irrevocable without consideration. TRUE
In general, an offeree must affirmatively convey his or her intention to accept an offer to enter into a bilateral contract TRUE
A says to B:"If you paint my house, I will give you 5100." B promises to paint a's house. Thereis a contract. TRUE
At common law, an offeree may request additional terms in accepting the offer. TRUE
Merchant S accepts Merchant B's offer with an additional clause providing for reasonable interest for overdue invoices. The additional clause is part of the contract. TRUE
Revocation of an offer sent by mail is elfective upon receipt. TRUE
lla ained for forbearance of a legal right will constitut esileration TRUE
B agrees to buy a house offered by S if B gets a bank loan. There is a contract TRUE
<h3>Law of contract</h3>
Law of contract is an agreement between private parties creating mutual obligationsenforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
The bargaining power of the supplier is only high when the products of other supplier are not highly differentiated, presence of fewer suppliers of the product, fewer substitutes are possible and the costs of the existing supplier are high (Rivalry would be low). All this constitutes to competitve advantage to a firm if its product possesses differentiation, its products can be substituted, possesses greater control over costs, etc. So the only option that matches this criteria is option D.
