BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -To be legally effective, the offer must be made with serious intent, be definite (clearly stated), and be communicated to the offeree. Intention is determined by words and conduct and not by the secret intention of the offeror. This is called the objective theory of contracts.
Detailed explanation-2: -An offeror’s attempt to word the offer so that silence would appear to be an acceptance will not work. Unilateral Acceptance – In some offers, the offeror requires that the offeree indicate acceptance by performing his or her obligations under the contract.
Detailed explanation-3: -Intent to Make an Offer-The offeror must intend to make the offer. Whether there is intent to make an offer is judged from the position of the offeree. If a reasonable person in the position of the offeree would believe the offerors words or actions constitute an offer, it is an offer.