Asked by Salvador Ramirez on Jun 03, 2024
Verified
One element necessary for an effective offer is the offeror's good faith belief in its reasonableness.
Effective Offer
A proposal that meets all legal requirements and is presented in a manner that a reasonable person would understand its terms, triggering a potential contract.
Good Faith
The honest intention to act without taking an unfair advantage over another party in a transaction.
Reasonableness
The quality of being moderate, fair, and sensible in judgment or expectations, often evaluated in legal contexts.
- Recognize the elements necessary for an effective offer.
Verified Answer
TC
Theresa ChidinmaJun 03, 2024
Final Answer :
False
Explanation :
An effective offer requires clear and definite terms, communication to the offeree, and an intention to be bound by the offer, but not necessarily the offeror's good faith belief in its reasonableness.
Learning Objectives
- Recognize the elements necessary for an effective offer.