Asked by Eunice Gwendolyn on May 14, 2024
Verified
Under the general law of contracts,a signed,written offer made by a merchant that allows acceptance at any time within a 90-day time period is not binding unless the offeree signs the offer.
Merchant
An individual or business that is involved in the wholesale or retail sale of goods.
Time Period
A specific interval of time marked by a start and end point, often used for purposes of study, assessment, or to denote durations.
Offeree
In contract law, the person to whom an offer is made.
- Understand the concept of a firm offer and its significance in contract law.
Verified Answer
AZ
Aleah ZainulMay 20, 2024
Final Answer :
False
Explanation :
Under the general law of contracts, a signed, written offer made by a merchant that allows acceptance at any time within a 90-day time period is binding even if the offeree does not sign the offer. This is known as a firm offer.
Learning Objectives
- Understand the concept of a firm offer and its significance in contract law.