EIBL quiz

A newspaper ad reads as follows:
“Ponies, 1000 euros each."

Is it an offer?

• Yes

• No

Can a catalog of products be an offer?

• Yes

• No

Under common law when is acceptance if postal mail is being used?

• When the acceptance is mailed

• When the acceptance is received

• A reasonable time after the acceptance is mailed

• Mail can't be used anymore for accepting an offer

Under common law what law where is a contract formed?

• Where the buyer signs the contract

• Where the offer was sent from

• Where the acceptance was received

• Where the seller signs the contract

When is acceptance of an offer complete under the CISG?

• When the offeror receives it

• When it is communicated to the offeror

• When it is signed by the offeror

• When it is signed by the offeree

Where does acceptance take place under the CISG?

• At the offeror's location

• At the offeree's location

Under the CISG, a reply to an offer that adds or changes some of the terms can never be an accpetance.

• True

• False

What is not true of consideration?

• It must be something of value

• It can be a forebearance

• It doesn't need to be adequate

• It is required by the CISG

What distinguishes a warranty from a representation in contract law?

• A representation is always written, while a warranty is always oral.

• A warranty is a legally binding promise, while a representation is not necessarily binding.

• A warranty is made during negotiations, while a representation is included in the contract.

• A representation cannot lead to legal remedies, while a warranty always does.

In Esso Petroleum Co Ltd v. Mardon (1976), why were the sales projections considered a collateral warranty?

• The statements were made by experts, inducing reliance.

• The projections were included as a term of the main contract.

• The statements were opinions rather than factual assertions.

• The company had no knowledge that the statements would be relied upon.