Franz Bought a Round-Trip Ticket to Germany to Visit Relatives

question 109

Multiple Choice

Franz bought a round-trip ticket to Germany to visit relatives. Unfortunately, a week before flight time, he broke his leg. He offered his co-worker, Joe, the ticket for 80% of the full price, offer to remain open until 10:00 p.m. on December 15. Indicate to Joe which of the following is true with regard to the law of offer and acceptance.

• A) If Franz sells to someone else, it is too late for Joe to accept the original offer.
• B) Franz could revoke the offer any time before acceptance, even before 10:00 p.m. on December 15.
• C) To create a contract, an offer must be in writing.
• D) A letter of acceptance is always effective when it is dropped in the mailbox.
• E) If Joe makes a counteroffer of 50% of the full price, and Franz rejects the counteroffer, Joe can still accept the original offer.

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Definitions:

Merchant Class

A social class comprised of individuals engaged in commerce, indicating their role and status in economic exchanges and society.

Artisan Class

A social group comprised of skilled craft workers who produce goods or services with a high degree of manual expertise and creativity, historically significant before the industrialization.

Social Classes

Categories of a society's population based on wealth, income, occupation, education, and other socio-economic factors, influencing life chances and experiences.

Showed Maturity

Demonstrated the ability to respond to a situation or make decisions in a way that is consistent with adult behavior, often implying wisdom or emotional intelligence.