A. What are the three essentials of an offer? b. How does one distinguish between an offer and an invitation seeking offers?
a. For an offer to be effective, it must be communicated to the offeree, manifest an intent to enter into a contract, and be sufficiently definite and certain.
b. An offer is an indication of willingness to enter into a contract. It is a definite undertaking or proposal made by one person to another indicating a willingness to enter into a contract. Invitations seeking offers are merely indications of willingness to be offered something. They lack intent to enter a contract. There is no contract involved until an offer has been made and accepted.
You might also like to view...
Which of the following is not a required disclosure by a lessor of a sales-type lease?
A) the guaranteed residual value accruing to the benefit of the lessor B) total contingent rentals included in revenue for the period C) unearned income D) a general description of the lessor's leasing arrangements
The highest form of partnering is the:
A) marketing alliance B) value-added alliance C) partnering alliance D) customer partnership alliance E) strategic selling alliance
The determination of trading-area overlap is most important for which retailer?
a. chain b. supermarket c. independent d. department store
BluTech uses both interviews and a battery of tests when screening job candidates. If the results of the tests and the interviews both indicate that a candidate should be hired or rejected, the selection procedure can be described as
A. having predictive validity. B. being reliable. C. being redundant. D. having content validity.