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Silence as Acceptance and Essential Requirement

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Silence as Acceptance and Essential Requirement

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Questions and Answers

What is a key characteristic of a definitive offer according to the text?

Ability to be revoked after reaching the offeree

Clarity and precision in stating terms and conditions (correct)

Ambiguity in the offeror's intentions

Flexibility in terms and conditions

Under what circumstances can an offer be revoked according to the text?

Before reaching the offeree

If it contains clear and unequivocal consent

With no specified delay before acceptance (correct)

After the offeree's implied acceptance

What happens if the acceptance modifies the original offer according to the text?

It creates a binding contract immediately

It becomes a counter-offer (correct)

It is considered an express acceptance

It results in revocation of the original offer

How can acceptance be communicated according to the text?

Explicitly through verbal or written agreement, or tacitly through actions Signup and view all the answers

What are the two components required for fraud to occur?

Intentional and material components Signup and view all the answers

In what situation can contracts with defects in consent be nullified?

When there is a mistake, fraud, or duress Signup and view all the answers

Who typically bears the burden of proving the defect to challenge the contract’s validity?

The party alleging the defect Signup and view all the answers

What types of duress can make the consent under duress invalid?

Any combination of physical, psychological, or financial duress Signup and view all the answers

In a reciprocal contract, each party is considered as:

A debtor and a creditor Signup and view all the answers

Which type of contract generates an obligation at the expense of only one party?

Unilateral Contract Signup and view all the answers

What type of contract makes its realization depend on an uncertain event?

Aleatory Contract Signup and view all the answers

Which of the following situations does NOT qualify as an exception to the general rule that silence is not considered acceptance?

Silence in response to an invalid contract Signup and view all the answers

In what situation can silence be interpreted as acceptance based on past dealings in ongoing business relationships?

When there is no significant misunderstanding in the offer Signup and view all the answers

What type of defects in consent can render a contract potentially void?

Substantial mistake and mistake on identity Signup and view all the answers

Under what condition is consent considered valid for a contract?

When it is given without any significant misunderstanding Signup and view all the answers