16. Jack went into a store and saw a beautiful leather jacket bearing a price tag of $29. The Jack handed the salesman a $50 bill and said, "I accept. We have a deal." The salesman then noticed the price tag and told the Jack an error had been made and that the price was $229. In this case: a. Jack validly accepted the store's offer. b no contract was formed because Jack's offer was refused. c. the price tag was a firm offer. d. Jack is the offeree. 17. In International Shoe Co. v. State of Washington, International Shoe did not have offices in Washington State but it did send about a dozen sales people there. The Supreme Court held that: a. The case involved a federal question over which the court had jurisdiction b. The Washington Courts had no jurisdiction over International Shoe c. International Shoe did not have sufficient contacts with Washington. International Shoe had sufficient contacts with the state to be sued in Washington. 18. Supplier S sends a written offer to Retailer R for the sale of electronic devices with specific delivery terms. Retailer R responds by accepting the offer but includes additional terms in the acceptance related to warranty coverage, significantly altering the original contract terms. Which legal principle under UCC 2-207 applies to this scenario? a. The conflicting warranty terms are treated as proposals for additional terms and do not become part of the contract. b. There is no contract because the additional terms create a counteroffer and rejection of the offer. c. The additional warranty terms automatically become part of the contract. d. The additional warranty terms are deemed immaterial and do not alter the contract 19. Chandra sues Wendy for making a promise under the doctrine of promissory estoppel. She will have to prove all of the following except: Chandra and Wendy engaged in a bargained-for exchange. b. Wendy must intend or should reasonably expect that Chandra will rely on the promise. c. Chandra must in fact rely on the promise in some definite and substantial manner. d. Enforcement of Wendy's promise is the only way to avoid injustice. 20. All of the following are considered limited or special jurisdiction courts except: a. A Probate court b. A Juvenile court A Court of original jurisdiction. d. A Domestic Relations court

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you please provide answers for these multiple choice questions below ?

AND ALSO FIND WHICH TEST BANK DO THESE QUESTIONS COME FROM?

16. Jack went into a store and saw a beautiful
leather jacket bearing a price tag of $29. The
Jack handed the salesman a $50 bill and said, "I
accept. We have a deal." The salesman then
noticed the price tag and told the Jack an error
had been made and that the price was $229. In
this case:
a. Jack validly accepted the store's offer.
b
no contract was formed because Jack's
offer was refused.
c. the price tag was a firm offer.
d. Jack is the offeree.
17. In International Shoe Co. v. State of Washington,
International Shoe did not have offices in
Washington State but it did send about a dozen
sales people there. The Supreme Court held
that:
a. The case involved a federal question over
which the court had jurisdiction
b. The Washington Courts had no jurisdiction
over International Shoe
c. International Shoe did not have sufficient
contacts with Washington.
International Shoe had sufficient contacts
with the state to be sued in Washington.
18. Supplier S sends a written offer to Retailer R
for the sale of electronic devices with specific
delivery terms. Retailer R responds by
accepting the offer but includes additional terms
in the acceptance related to warranty coverage,
significantly altering the original contract terms.
Which legal principle under UCC 2-207
applies to this scenario?
a. The conflicting warranty terms are
treated as proposals for additional terms
and do not become part of the contract.
b. There is no contract because the
additional terms create a counteroffer
and rejection of the offer.
c. The additional warranty terms
automatically become part of the
contract.
d. The additional warranty terms are
deemed immaterial and do not alter the
contract
19. Chandra sues Wendy for making a promise
under the doctrine of promissory estoppel. She
will have to prove all of the following except:
Chandra and Wendy engaged in a
bargained-for exchange.
b. Wendy must intend or should reasonably
expect that Chandra will rely on the
promise.
c. Chandra must in fact rely on the promise
in some definite and substantial manner.
d. Enforcement of Wendy's promise is the
only way to avoid injustice.
20. All of the following are considered limited or
special jurisdiction courts except:
a. A Probate court
b. A Juvenile court
A Court of original jurisdiction.
d. A Domestic Relations court
Transcribed Image Text:16. Jack went into a store and saw a beautiful leather jacket bearing a price tag of $29. The Jack handed the salesman a $50 bill and said, "I accept. We have a deal." The salesman then noticed the price tag and told the Jack an error had been made and that the price was $229. In this case: a. Jack validly accepted the store's offer. b no contract was formed because Jack's offer was refused. c. the price tag was a firm offer. d. Jack is the offeree. 17. In International Shoe Co. v. State of Washington, International Shoe did not have offices in Washington State but it did send about a dozen sales people there. The Supreme Court held that: a. The case involved a federal question over which the court had jurisdiction b. The Washington Courts had no jurisdiction over International Shoe c. International Shoe did not have sufficient contacts with Washington. International Shoe had sufficient contacts with the state to be sued in Washington. 18. Supplier S sends a written offer to Retailer R for the sale of electronic devices with specific delivery terms. Retailer R responds by accepting the offer but includes additional terms in the acceptance related to warranty coverage, significantly altering the original contract terms. Which legal principle under UCC 2-207 applies to this scenario? a. The conflicting warranty terms are treated as proposals for additional terms and do not become part of the contract. b. There is no contract because the additional terms create a counteroffer and rejection of the offer. c. The additional warranty terms automatically become part of the contract. d. The additional warranty terms are deemed immaterial and do not alter the contract 19. Chandra sues Wendy for making a promise under the doctrine of promissory estoppel. She will have to prove all of the following except: Chandra and Wendy engaged in a bargained-for exchange. b. Wendy must intend or should reasonably expect that Chandra will rely on the promise. c. Chandra must in fact rely on the promise in some definite and substantial manner. d. Enforcement of Wendy's promise is the only way to avoid injustice. 20. All of the following are considered limited or special jurisdiction courts except: a. A Probate court b. A Juvenile court A Court of original jurisdiction. d. A Domestic Relations court
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