Which of the following will terminate an offer by operation of law? a. Death of the offeree before acceptance. b. Death of the offeror before acceptance c. Destruction of the subject matter of the...

Which of the following will terminate an offer by operation of law? a. Death of the offeree before acceptance. b. Death of the offeror before acceptance c. Destruction of the subject matter of the offer d. All of the above will terminate the offer by operation of lavw e. None of the above will terminate an offer CDE Frank put an ad in the local paper stating that he had a 1998 Avalon with 110,000 miles for sale for $9,000. Which statement best describes the legal status of this ad? a. It is an offer to sell the car because it meets the requirement of definiteness b. It is a firm offer to sell the car because it evidences a present commitment. c. It is an option offer to sell the car because it is communicated to multiple offerees d. It is not an offer, but an announcement that he has a car to sell Harry is selling his rare coin collection through Marshall Auction House. Harry will not sell the collection for less than $300,000 and has the right to withdraw the collection if the $300,000 minimum. What is the term for this kind of auction? a. Option auction b. Seller's auction c. Auction with reserve d. Auction without reserve Dell, a farmer, has an agreement to lease 500 acres from Wood for 3 years. Must this agreement be in writing to be enforceable? Yes, it is an interest in land and it is for more than one year, Yes, all leases of farmland are governed by the Statute of Purposes and must be in writing. No, all leases of farmland over 500 acres are governed by the Statute of Repose and may be oral. No, as soon as Dell plants crops a unilateral contract is formed that does not have to be in writing. In construing a contract, a court will give the greatest weight to a. Typewritten terms b. Pre-printed terms. c. Handwritten terms d. All of the above are weighted equally by the court. 50. Jerry built a 3,000 square foot home for Susan for $350,000. There was a "time is of the essence" clause in the construction contract. On the day of settlement, Jerry had not screened the porch and had primed, but not painted, the trim in the master bath. What is Jerry entitled to receive in payment? Nothing, he breached a material condition of the contract. Jerry substantially performed the contract and is entitled to the full $350,000 contract price Jerry substantially performed the contract and is entitled to $350,000 less the amount it will cost Susan to have the work finished. Jerry will be able to recover in quantum meruit, but only the fair value of the services, not the contract price.