Match the Following: A.A Contract That Binds an Offeror to Keep an Offer

question 35

Essay

Match the following:
a.A contract that binds an offeror to keep an offer open for a specified period of time.b.Improper physical or mental coercion exercised upon a person so that he is forced to act against his free will.c.Taking unfair advantage of a person by reason of a dominant position based on a relationship of trust and confidence.d.A contract resulting from the exchange of a promise for an act or a forbearance.e.A wrongful failure to properly perform contractual promises.f.A contract that has not been fully performed.g.A binding agreement that the courts will enforce.h.A contract that has been fully performed by all of the parties.i.A contract in which both parties exchange promises.j.Contingency not contained in the language of the contract but imposed by law.k.Transfer of a contractual obligation to a third party.l.A merchant's irrevocable offer to sell or buy goods in a signed writing that gives assurance that it will not be terminated for the time stated,up to three months.m.A statement in the form of a promise that imposes no obligation on the person making the statement.n.Affirmation of an entire contract;may be done upon reaching majority.o.The inducement given to enter into a contract;whatever is given in exchange for something else.p.A substituted contract involving a new third-party promisor or promisee.q.An equitable remedy that compels the actual performance by the defaulting party of his contractual obligations.r.Voluntary transfer of contractual rights to a third party.s.An obligation not based upon contract that is imposed to avoid injustice.t.Withdrawal of an offer by the offeror.u.Doctrine enforcing noncontractual promises in certain circumstances to avoid injustice.v.A court order prohibiting a party from doing a specific act.w.Approval based on whether a reasonable person would be satisfied.x.An agreement to purchase all the materials of a particular kind that the purchaser needs from one seller.y.An agreement to sell the entire production of a particular seller to one buyer.
-breach

Grasp the impact and significance of the UCC on commercial transactions.

Differentiate between federal law and the Uniform Commercial Code in governing transactions.

Understand the requirements for contract modifications under the UCC.

Distinguish between the mirror-image rule and UCC’s stance on contract terms and acceptance.

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Definitions:

Unskilled Jobs

Positions that require minimal specialized skills, training, or education, often characterized by routine tasks and low pay.

Human Capital

The collective skills, knowledge, abilities, and other attributes embedded in individuals that contribute to their economic productivity.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various methods such as teaching, training, storytelling, discussion, and directed research.

On-The-Job Training

The education and training provided to employees while they perform tasks or processes related to their job at the workplace.