Asked by Hannah Hanson on May 27, 2024
Verified
Which of the following conditions characterizes a firm offer regarding the sale of goods?
A) It must be verbally communicated.
B) It can be revoked by the offeror prior to acceptance.
C) It must be made in the presence of a government official.
D) It must be made by an offeror who is a merchant.
Firm Offer
An offer in a contract that is expressed in a way that it cannot be revoked for a certain period of time.
Merchant
An individual or business entity engaged in the trade of goods, services, or both, to consumers.
- Understand the scenarios in which an offer could be canceled or must stay in effect.
- Identify the legal requirements and effects of options and firm offers.
Verified Answer
KO
Kingsley OgarashiMay 28, 2024
Final Answer :
D
Explanation :
In order to qualify as a firm offer,it must (1)be made by an offeror who is a merchant, (2)be contained in a signed writing,and (3)give assurances that the offer will be kept open.
Learning Objectives
- Understand the scenarios in which an offer could be canceled or must stay in effect.
- Identify the legal requirements and effects of options and firm offers.