Reference no: EM131623399

1. Carrie decides to offer Shelley the opportunity to purchase her motorcycle for just $500. Carrie told Jim, a mutual friend of Shelley and her, that she intended to make the offer. Later, Carrie changes her mind. Shelley approaches Carrie and says she accepts the offer. No contract was formed most likely because
A. Carrie didn't possess a serious, objective intention.
B. Jim was acting as an agent for Shelley without telling Carrie.
C. the terms of the offer weren't definite enough to form a contract.
D. Carrie never communicated the offer to Shelley.

2. Candice hires Otto to work as a tax preparer in Candice's tax return business. The employment contract restricts the ability of Otto to set up a competing business or engage in tax preparation services if Otto leaves Candice's employ. Otto discovers he likes this kind of work and wants to set up his own tax return business. He asks you whether the restrictions in his contract with Candice will be enforceable. You should tell him that
A. any restriction regarding employment will be enforceable as long as there was adequate consideration.
B. any restriction regarding employment is unenforceable as against public policy.
C. restrictive covenants regarding future employment will be enforceable if they're reasonable.
D. restrictive covenants regarding future employment will be enforceable if the value of the consideration given for the covenant equals the value of the income loss that would be caused by enforcing the agreement.

3. Finn agrees to pay $100 to anyone who will paint his house. Will hears about the offer and paints. Finn refuses to pay, saying Will never formally accepted Finn's offer. Which of the following is true?
A. Offer and acceptance are irrelevant if one of the parties changes position.
B. Will has to formally accept, but can do so within a reasonable time after painting.
C. This is a bilateral contract, and Will didn't accept.
D. This is a unilateral contract and painting constituted acceptance.