Author Question: Under both Article 2 and the common law, if parties intend to enter into a binding agreement, but ... (Read 115 times)

geoffrey · **on:** Jun 24, 2018

Under both Article 2 and the common law, if parties intend to enter into a binding agreement, but are unable to agree to all major terms, a contract will be formed with the missing terms supplied by the parties at a later date or reasonable terms will be imposed by the court if necessary.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A contract is formed only when an offer is accepted:
a. by the offeree b. by the offeror
c. by the rules of the UCC
d. by the promisor
e. none of the other choices