Reference no: EM132785280

problem 1: In general, which of the following will not terminate an offer?

a. An inquiry by the offeree as to size or materials

b. The death of the offeror

c. The death of the offeree

d. An acceptance that adds a material term

problem 2: The State of Georgia enters into a contract with Treasure Salvors governing the salvage of a Spanish galleon that sunk in the 1600s. Under the terms of the contract, the salvagers agree to relinquish 25% of the items recovered to the State of Georgia in return for the right to salvage on state lands. At the time the parties enter into the contract, they both believe that the seabed where the ship lies is State land. Subsequently, the United States Supreme Court holds that the continental shelf on which the ship rests has never been owned by Georgia. The salvagers sue to rescind the contract. The contract:

a. should be enforced because, although there is a mutual mistake, it is not material.

b. should be avoided because the parties made a mutual mistake.

c. will be enforceable because the United States government will automatically step into the shoes of the State of Georgia.

d. cannot be rescinded.