Briefly discuss how an offer can be accepted. Include in your ...

[amal]

Briefly discuss how an offer can be accepted. Include in your answer the application of the mirror image rule.

Question 2

International business may be classified into which of the following three categories:
 A) trade, import/export, foreign exchange.
 B) international licensing agreements, investments, law.
 C) trade, international licensing agreements, investment.
 D) international licensing agreements, trade, franchising.

[jharrington11]

Answer to Question 1

When there is a valid offer outstanding, it remains effective until it is terminated or accepted. An offeree accepts by saying or doing something that a reasonable person would understand to mean that he definitely wants to take the offer. It is important to note that the offeree must say or do something to accept. It need not be a formal acceptance: for example, if Grace offers to sell Janie her accounting textbook for 50, Janie does not have to say I accept your offer. She can accept by simply saying I'll take it, or It's a deal. Janie does not even need to speak. If she hands Grace 50, she also accepts the offer. The common-law mirror image rule requires that acceptance be on precisely the same terms as the offer. If the acceptance contains terms that add or contradict the offer, even in minor ways, courts generally consider it a counteroffer. UCC Section 2-207 has modified this rule for the sale of goods by providing that an acceptance that adds different or additional terms will often create a contract.

Answer to Question 2

C

[amal]

Correct answers!

[jharrington11]

Great! Please up vote