Explain implied and express authorizations

What will be an ideal response?


An acceptance must be properly dispatched. The acceptance must be properly addressed, packaged in an appropriate envelope or container, and have prepaid postage or delivery charges. Most offers do not expressly specify the means of communication required for acceptance. The common law recognizes certain implied means of communication. Implied authorization may be inferred from what is customary in similar transactions, usage of trade, or prior dealings between the parties. An offer can stipulate that acceptance must be by a specified means of communication. Such stipulation is called express authorization. If the offeree uses an unauthorized means of communication to transmit the acceptance, the acceptance is not effective, even if it is received by the offeror within the allowed time period, because the means of communication was a condition of acceptance.

Business

You might also like to view...

Allowance for Bad Debts is a contra-sales account because it is reported as a reduction of sales on the income statement

Indicate whether the statement is true or false

Business

Which of the following is a potential disadvantage of online marketing research?

A) Participants must be in a central location. B) The format can restrict respondents' expressiveness. C) Results take longer to tabulate and analyze. D) The cost of online focus groups is greater than that of most other research methods. E) The format of the research tends to be more invasive.

Business

Which of the following items should not be included in the cost of ending merchandise inventory?

A) units on consignment B) purchased units in transit, shipped FOB destination C) units on hand in the warehouse D) both (a) and (c)

Business

Which of the following is not actionable as fraud?

A) misrepresentation of law B) silence as misrepresentation C) marriage to obtain rights of immigration D) identity theft

Business