This topic contains a solution. Click here to go to the answer

Author Question: Briefly discuss how an offer can be accepted. Include in your answer the application of the mirror ... (Read 170 times)

amal

  • Hero Member
  • *****
  • Posts: 572
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jharrington11

  • Sr. Member
  • ****
  • Posts: 365
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





 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

For a complete list of videos, visit our video library