Collector Carl displays his beer can collection at the local swap meet. Mary sees the collection and is interested in buying it. Carl says he will sell the collection for 1,500. Mary says she really likes the collection but is only willing to pay 1,000. Which of the following is correct?
A)Mary's counteroffer terminates Carl's offer of 1,500.
B)If Carl rejects Mary's counteroffer, she can still accept Carl's offer of 1,500.
C)Neither offer is valid. Who would ever pay 1,000 or 1,500 for a beer can collection?
D)Mary's offer is an option contract and she cannot revoke the offer.
Question 2
International licensing agreements pertain to forms of intellectual property such as:
A) government property.
B) trademarks, copyrights, patents.
C) real estate, personal property.
D) contracts.
