Posted on by Judy

Which of the following choices states all of the requirements of a firm offer? The offer is contained within a signed writing. The offer is exchanged with another merchant. The offer must be accepted within 30 days. The offer is contained within a signed writing made by a merchant and the offeror gives reasonable assurances that the offer will remain open. The offer is stated by a merchant and is approved by the court.

Ans: Th offer is contained within a signed writing made by a merchant and the offeror give reasonable assurances that the offer will remain open.
Explanation: Firm offer is an offer that remains valid for a certain period of time. Its a wriitem and signed agreement between two party.
 
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  1. The Mirror Image rule provides that: The acceptance must mirror the offer. The acceptance cannot contain different terms than the offer. When reciting the offer and acceptance, the offeror and offeree must look at each other in the mirror to be valid. The acceptance is valid upon dispatch. Consideration must be exchanged.
  2. The Mirror Image rule provides that: The acceptance must mirror the offer. The acceptance cannot contain different terms than the offer. When reciting the offer and acceptance, the offeror and offeree must look at each other in the mirror to be valid. The acceptance is valid upon dispatch. Consideration must be exchanged.
  3. The offeror can state how the offeree must accept the offer. If the offeror specifies how the offer must be accepted, then the offeree must accept in the manner specified. If no manner of acceptance is stated, then under the Uniform Commercial Code, the offeree can accept in any reasonable way. True False
  4. Lucy is selling her bike for $200.00. Lynn gives Lucy $50.00 to keep the offer open for two days and not sell it to anyone else for that period of time. This is an example of which of the following? An option contract. promissory estoppel. An implied contract. A revoked offer.