Author Question: The tort system in the U.S. is estimated to cost about 250 billion a year. a. True b. False ... (Read 74 times)

dalyningkenk · **on:** Jun 24, 2018

The tort system in the U.S. is estimated to cost about 250 billion a year.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A buyer and a seller would like to enter into a contract for the sale of goods. In his offer the buyer does not specify a price. The seller agrees with the arrangement.
a. under Article 2 there is a contract if the parties have done business before
b. under the common law of contracts, but not the UCC, there is a contract because the parties intended to enter into a binding agreement even in the absence of the price term
c. there is a contract under Article 2 because it allows the parties to enter into a contract even though the price is to be determined later
d. there is no contract under Article 2 because some of the offer's major terms were omitted or were simply left open for determination later
e. there can be no contract under Article 2 or the common law when price is missing