Unformatted text preview: In the meantime, on November 4, the offeree sends the
offeror a rejection which arrives on November 5. Which of the following statements correctly
describes the situation?
There was no contract because the rejection arrived before the acceptance.
There was a contract on November 6.
There was a contract on November 1.
There was no contract as the offer terminated on November 4 when the rejection was sent.
152. At an ABC University Alumni meeting, Carl and the others at his table signed a subscription
form, on which he agreed to donate $5,000 to ABC University. In most states, Carl’s promise:
would be enforced.
would not be enforced, because the university has not given consideration.
would not be enforced, because a university is not considered a charity.
both b and c above.
d. At an auction sale, each bid is:
a counteroffer to the auctioneer’s offer of the merchandise.
an acceptance of the auctioneer’s offer.
an invitation to negotiate.
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- Fall '12
- The Lottery