Contract Questions

C jets revocation effectively terminated its offer on

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: is called a revocation. rejection. withdrawal. counter-offer. The next two questions are based on the following information. On April 2, Jet Co. wrote Ard, offering to buy Ard’s building for $350,000. The offer contained all of the essential terms to form a binding contract and was duly signed by Jet’s president. It further provided that the offer would remain open until May 30 and an acceptance would not be effective until received by Jet. On April 10, Ard accepted Jet’s offer by mail. The acceptance was received by Jet on April 14. 420. Assume that on April 11 Jet sent a telegram to Ard revoking its offer and that Ard received the telegram on April 12. Under the circumstances, a. a contract was formed on April 10. b. a contract was formed on April 14. c. Jet’s revocation effectively terminated its offer on April 12. d. Jet’s revocation effectively terminated its offer on April 11. 421. For this item only, assume that on April 13 Ard sent a telegram to Jet withdrawing the acceptance and rejecting Jet’s offer and that Jet rec...
View Full Document

Ask a homework question - tutors are online