Which of the Following Is True

question 5

Multiple Choice

Which of the following is true?

• A) After making a counteroffer a party may accept the original offer.
• B) A rejection terminates the offer and ends the power to accept the offer
• C) If the offer specifies no time limit,the offeree has 2 day to accept.
• D) all of the above

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Definitions:

Chapter 7

A provision under the U.S. Bankruptcy Code allowing individuals or businesses to liquidate their assets to pay off creditors as part of a bankruptcy proceeding.

Railroads

Railroads are companies that operate trains on a set of tracks for the transport of goods and passengers.

Conserve And Administer

The act of preserving resources or assets and managing them responsibly for current and future use.

Chapter 11

A chapter of the U.S. Bankruptcy Code allowing a business to continue operations while reorganizing its debts under court supervision.