Explain the importance of "time of acceptance" of contracts
What will be an ideal response?
Under the common law of contracts, acceptance of a bilateral contract occurs when the offeree dispatches the acceptance by an authorized means of communication. This rule is called the acceptance-upon-dispatch rule or, more commonly, the mailbox rule. Under this rule, the acceptance is effective when it is dispatched, even if it is lost in transmission. If an offeree first dispatches a rejection and then sends an acceptance, the mailbox rule does not apply to the acceptance. The problem of lost acceptances can be minimized by expressly altering the mailbox rule. The offeror can do this by stating in the offer that acceptance is effective only upon actual receipt of the acceptance.
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Roscoe Corporation owns 85% of Vintage Corporation and 25% of Waxtin Corporation. Vintage owns 60% of Waxtin. Each corporation has only one class of stock. The three corporations form a(an)
A. parent-subsidiary controlled group. B. combined controlled group. C. brother-sister controlled group. D. unrelated group of corporations.
The proposals that will either meet company strategic goals or produce the minimum rate of return will receive serious review in the preliminary screening process
Indicate whether the statement is true or false
Which of the following is an example of demographic information?
a. An individual's level of intelligence b. An individual's moral values c. An individual's hobbies d. An individual's age
An easement in gross is personal to the one individual who obtained that right and will not pass to another owner of the property
Indicate whether the statement is true or false