Unformatted text preview: t selling.
Elmer has made a firm offer to Fred which cannot be revoked.
Elmer can revoke his offer at any time before acceptance, because there is no consideration to
keep it open.
Elmer must keep the offer open, because this is an option contract.
Elmer is promissorily estopped from revoking his offer to Fred. 208. Elvis makes an offer to Fred, but before Fred can accept, the state supreme court decides a case
that makes Elvis’s offer illegal. What is the effect of the court decision on the offer?
The court decision automatically terminates the offer.
The court decision has no effect on the offer.
The court decision acts as a condition on the offer.
The court decision acts as a rejection of the offer by the offeree.
209. Employer promises to pay Retiree a $10,000 per year pension for the remainder of Retiree’s life
in return for Retiree’s promise to pay Employer $1 per year. Retiree foreseeably relies on the
promise by taking out a mortgage on a small vacation home. Later Employer, who never
intended to pay the p...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.
- Fall '12
- The Lottery