This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 21. No it has to do with when the acceptance is effective 22.No because an agreement on the type of authorized communication must be made and must be reasonable 23.Option contract is when an offeror promises to hold an offer open for a specified period of time in return for a payment given by offeree 24.Not common law but the Section 2a of the UCC should be applied 25.Promissory Estoppel is used for a person who has reasonably and substainally relied on the promise of another , may be able to obtain some measure of recovery 26.It is applied mostly to Gifts and Donations 27. What is the test for legally sufficient consideration? 28.Does adequacy of consideration have to do anything with its legal sufficiency? 29.Yes...
View Full Document
- Spring '07
- Business Law