CONTRACTS THE ACCEPTANCE

Question 1

ACCEPTANCE IN OPTION K

Answer 1

IS ASSIGNABLE TO A THIRD PARTY

Question 2

ACCEPTANCE OF UNILATERAL K

Answer 2

a. Completion of Performance
b. Notice is usually required BUT is NOT required if:
i. Offeror waived notice
ii. Performance gives notice

Question 3

IRREVOCABLE OFFER IN UNILATERAL K

Answer 3

IF PERFORMANCE HAS BEGUN

Question 4

ACCEPTANCE IN BILATERAL K

Answer 4

COMMUNICATED AND UNEQUIVOCAL

Question 5

ACCEPTANCE FOR UCC 2

Answer 5

PROMPT AND CURRENT SHIPMENT OR

ACCEPTANCE

Question 6

CL ACCEPTANCE REQUIRES

Answer 6

MIRROR IMAGE

Question 7

UCC ACCEPTANCE REQUIRES

Answer 7

MUTUAL ASSENT UNCERTAIN OK FOR UCC

Question 8

MAILBOX RULE

Answer 8

Acceptance is effective at moment of dispatch BUT

1) Offer stipulates differently
2) Option K then acceptance only on RECEIPT
3) Rejection followed by acceptance: First to arrive
4) Acceptance then rejection: Acceptance is effective unless rejection first and offeror detrimentally relies.