True/False Questions: Contract revocation can be valid any time prior to accepta
ID: 430493 • Letter: T
Question
True/False Questions:
Contract revocation can be valid any time prior to acceptance. ________
An advertisement that includes “0 down: no payments until June” is an example of puffing language. ________
A bilateral contract is one in which one side promises to perform in exchange for the other side’s actions. ________
The difference between fraud and misrepresentation is proof of intent. ________
The three day cooling off period applies to all credit transactions. ________
A television rent-to-own contract that requires 24 payments of $30 each before the renter owns the $199.00 television is unconscionable. ________
Explanation / Answer
True that contract revocation can be valid any time prior to acceptance. The only thing is that it must be communicated to the offeree, though not necessarily by the offeror.
True that an advertisement that includes “0 down: no payments until June” is an example of puffing language.
False that a bilateral contract is one in which one side promises to perform in exchange for the other side’s actions.
True that the difference between fraud and misrepresentation is proof of intent.
False that the three day cooling off period applies to all credit transactions.
True that a television rent-to-own contract that requires 24 payments of $30 each before the renter owns the $199.00 television is unconscionable.
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