Which of the Following Is False with Regard to Contract

question 40

Multiple Choice

Which of the following is false with regard to contract law?

• A) A revocation is effective only when received.
• B) An option is a contract in which one person is buying a period of time within which he may accept the offer contained within the option.
• C) A counter-offer ends an offer.
• D) An important criterion for determining the place of the contract is the place where the acceptance is effective.
• E) A newspaper notice offering to pay a reward for the return of lost kittens is an invitation to treat.

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Definitions:

Sherman Act

A landmark federal statute in the United States antitrust law passed by Congress in 1890, which prohibits monopolistic and anticompetitive practices.

Antitrust Division

A section of the government tasked with enforcing laws to prevent unfair competition, monopolies, and to preserve market integrity.

Treble Damages

A legal award in a lawsuit that triples the amount of actual or compensatory damages, often granted in cases of willful wrongdoing.

Geographic Markets

Areas delineated by geographical boundaries within which a population might reasonably constitute a market for goods or services, often considered in economic and marketing analyses.