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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Midterm Quiz 2

Midterm Quiz 2

Q Question 1 2 / 2 pts Regarding contracts, in seeking to determine whether there is a meeting of the minds, the courts look to how a reasonable person would objectively view the language or actions of the parties. Question 2 2 / 2 pts Candy, Inc. signed an agreement with Sweet Plantation. Under the contract, Candy, Inc. agreed to purchase all the sugar cane Sweet Plantation grew during the coming season for $0.16 per pound. This contract will be unenforceable due to its vagueness. Question 3 2 / 2 pts Some of the elements of a contract are acceptance, consideration, legality, and capacity. Question 4 2 / 2 pts Wally owns 200 acres of land. Wally offers to sell the land to Robert for $1,500 per acre. Robert replies that he does not need 200 acres of land but would like to buy 40 acres at $1,500 per acre. Wally agrees to sell but does not identify which 40 acres. Later, Wally refuses to sell any land to Robert. What is the result? Question 5 2 / 2 pts Mike made the following offer to Mick: "I will pay you $500 if you agree to paint my house." Mick replied that he would. At this point, the contract is an

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1.True 2.False 3.False 4.Wally wins; this agreement is too indefinite since it does not identify which 40 acres are to be sold. 5.executory, bilateral, express contract.