eview Questions and Prob 1. Identify the terms in Column A by matching each with

Question

eview Questions and Prob 1. Identify the terms in Column A by matching each with the appropriate statement in Column B. Irrevocable offer by offeree's conduct Written offer by merchant with a promise to keep it open for acceptance (1) (a) (2) Offer terminated by (b) Manifestation of mutual assent operation of law Reliable person gives reliable information that offer is revoked (3) Counteroffen (c) (4) Offer terminated after (d) Applies only to acceptances reasonable time Words or conduct by offeree that reasonably shows offer is not accepted Both a rejection and a new offer (5) Irrevocable firm offer (e) (6) Rejection (7) Option contract (8) Indirect revocation (9) Meeting of the (1) (g) Death or insanity of offeror or (h) For consideration offer (i) Offer without a time limit for G) Part performance or reliance supervening illegality power to revoke acceptance or sells minds (10) Mailbox rule

Explanation / Answer

Irrevocable offer by offers conduct – reliable person gives reliable information that offer is revoked Offer terminated by operation of law- for consideration offer or sells power to revoke Counter offer – both rejection and a new offer Offer terminated after reasonable time – writers offer by merchants with a promise to keep it open for acceptance Irrevocable firm offer –manifests to mutual assents Rejection – offer without a time limit for acceptance Option contract- part performance or reliance Indirect revocation-both a rejection and a new offers Meeting of the minds- death or insanity of offer or sells power to revoke Mailbox rule-applies only to acceptance

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