BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lottery scam
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Price-fixing
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Spamming
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Work-at-home scheme
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Detailed explanation-1: -Acceptance of an offer to form a unilateral contract need not be communicated to the offeror to be effective. A properly mailed acceptance takes effect when mailed, even if it never is received by the offeror. At an auction sale, a statement made by the auctioneer to draw forth bids constitutes an offer.
Detailed explanation-2: -If no time for acceptance is specified in an offer, the offer terminates at the end of a reasonable time. True. In a bilateral contract, communication of acceptance is necessary.
Detailed explanation-3: -An output contract is too vague to be a legally-enforceable agreement. An offer is effective only if it is communicated by the offeror in person. An offer gives the offeror the power to bind the offeree by contract. A revocation of an offer is ordinarily effective only when it is communicated to the offeree.
Detailed explanation-4: -An offer can be accepted by the offeree or any third party. Acceptance may consist of words or conduct. Acceptance of an e-contract must show that an offeree voluntarily assented to the offer’s terms. A click-on agreement can indicate the acceptance of an online offer.