Asked by Mohammed Elahi on Jul 11, 2024
Verified
Ian,a lawyer,sent an offer to Raymond on October 1 offering to sell Ian's car for $5,000.The offer did not contain a provision stating when it would terminate.Under these circumstances,when will that offer terminate?
A) After 5 days,as per the "5 day rule."
B) After 10 days,as per the "10 day rule."
C) After a "reasonable time."
D) When either Ian or Raymond terminates it.
Reasonable Time
A period that is fair and appropriate given the circumstances, often used in contracts to define a period for the performance of an obligation.
- Determine the circumstances in which an offer can be withdrawn or is required to stay valid.
Verified Answer
CT
Celina TrudellJul 15, 2024
Final Answer :
C
Explanation :
Offers that fail to provide a specific time for acceptance are valid for a reasonable time.
Learning Objectives
- Determine the circumstances in which an offer can be withdrawn or is required to stay valid.
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