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PINAL EXAMINATION FALL 2017) INSTRUCTIONS Listen carefully to any oral instructions given by the examiner,...

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PINAL EXAMINATION FALL 2017) INSTRUCTIONS Listen carefully to any oral instructions given by the examiner, prior to or during the examination. All answers to the questions below must be recorded on or in the "scantron" or "blue book" using a #2 pencil or blue/black pen respectively. All examination materials must be turned in at the conclusion of the examination. Any failure to adhere to these rudimentary directions may result in a diminution of the test score or a disqualification therefrom PART I TRUE/FALSE (1.5 PTS. EA) 1. The response that the offeror expects from the offeree determines whether a contract is bilateral or unilateral. T/F 2. If a person is intoxicated when signing a contract, they may not back out of the contract based on being intoxicated because being intoxicated is a voluntary condition. T/F 3. An invitation to negotiate is an offer because it expresses a willingness to be bound by acceptance. T/F 4. An offeror has no right to revoke an offer before receiving a reply. T/F

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