Unit Five Test - Contract Law - Quiz Lo Dustin Krueger: Attempt 1 Question 6 (5

Question

Unit Five Test - Contract Law - Quiz Lo Dustin Krueger: Attempt 1 Question 6 (5 points) Royal Properties, Inc. mails flyers to hundreds of firms, advertising that it can sell prefrabricated buildings for $75,000. Standard Manufacturing Company responds to the ad in writing, saying "We accept your offer Between the two companies there is A contractual requirement to negotiate the sale of the building in good faith and complete a contract O Merely a solication by Royal Properties for an offer and no enforceable contract untail Royal Properties accepts O A right of first refusal to consider the offer before any others O A valid and enforceable contract for the sale of the building Save Question 7 (5 points) An offeree writes a letter of acceptance with the stipulation that the offeror must lower the selling price by 25% the offer OM P

Explanation / Answer

Royal Properties, Inc., mails a flyer to hundreds of firms, advertising that it can sell prefabricated buildings for 75000$. Standard Manufacturing Company responds to the ad in writing, "We accept your offer." Between the two companies, there is Merely a solicitaion by Royal Properties for an offer and no enforceable contract until Royal Properties accepts.

As it is just an advertisement to attract potential customers or buyers, acceptance of it doesn't guarantee a contractual agreement. Until Royal Properties accepts the proposal of the buyers, there is no enforceable contract.

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