If an Offeror Makes an Offer to an Offeree by Letter

question 21

True/False

If an offeror makes an offer to an offeree by letter and it is lost in the mail,no legally sufficient offer has been made.

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Definitions:

Compounded Quarterly

The method of computing interest that includes the original amount plus the interest accrued over periods of three months.

Annually Compounded

Refers to the process where interest is added to the principal balance once a year, allowing the interest to earn interest in subsequent years.

Semi-Annually Compounded

The process of calculating interest on a principal amount twice a year, with each compounding period leading to the addition of earned interest to the principal for future calculations.

Compounded Monthly

The practice of adding interest to the principal sum of a loan or deposit, with this process occurring every month.