Under the Common Law's Mirror Image Rule

question 23

Multiple Choice

Under the common law's mirror image rule,

• A) the parties do not need to intend a contract.
• B) an offeree can adds or alters any terms.
• C) when one party makes an offer,the offeree must accept those exact terms
• D) is equally important under the UCC.

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Definitions:

Observable Inputs

Inputs that are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use when pricing the asset or liability.

Level 2 Input

In fair value measurement, inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, such as using market-correlated data.

Level 2 Input

Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, directly or indirectly, such as quoted prices for similar assets or liabilities.

Interest Rates

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the outstanding loan.