Layton Fine Fashions Had a Shipment of Orange Ties That

question 7

Multiple Choice

Layton Fine Fashions had a shipment of orange ties that it wished to sell. It therefore placed an advertisement, on Monday, in the town newspaper that said, "Fine silk orange ties. The season's hottest fashion trend. This week only - Come to Layton Fine Fashions and we guarantee that you'll pay no more than $35." The advertisement was such a success that the ties were almost entirely sold out within two days. Which of the following statements is TRUE?

• A) Layton's offer will be revoked if it places a notice in the same newspaper that says "Sorry, gentlemen - the orange silk ties are all sold out," even if some disappointed customers failed to read that notice before they came to the store.
• B) because of the wording of the advertisement, the offer must be held open for one week, and Layton will be held liable to every potential customer who unsuccessfully tries to purchase one of the ties
• C) The situation probably is governed by the special rules that apply to tenders.
• D) Layton has nothing to worry about because a court certainly would find that the advertisement was an invitation to treat rather than an offer.
• E) The advertisement can be properly classified as an option.

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Definitions:

Standard Normal Curve

The standard normal curve is a type of normal curve with a mean of 0 and a standard deviation of 1, used as a reference in probability and statistics.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1 where 0 indicates impossibility and 1 indicates certainty.

Z

A statistical measure used in the context of standard deviations to describe the position of a raw score in relation to the mean of a group of scores.

Sex-Linked Traits

Characteristics determined by genes located on the sex chromosomes, often leading to traits that differ between males and females.