Asked by Natalia Hernandez on May 01, 2024
Verified
In the absence of a time condition in the offer,the offer will expire after thirty (30)days.
Time Condition
A stipulation in a contract or agreement that specifies a period or deadline by which certain actions must be performed.
- Acquire a comprehensive understanding of the theories behind offer communication and acceptance, with a focus on the mailbox rule.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
False
Explanation :
If the offer states that it will be held open for only a certain time,the offer will terminate when that time expires.In the absence of a time condition in the offer,the offer will expire after the lapse of a reasonable amount of time.What constitutes a reasonable amount of time varies,depending on the subject matter of the offer.For example,an offer by a retailer to purchase seasonal goods from a wholesaler would lapse before an offer to purchase goods that could be easily sold all year long.
Learning Objectives
- Acquire a comprehensive understanding of the theories behind offer communication and acceptance, with a focus on the mailbox rule.