In Contract Law, the Terms of the Offer Must Be

question 87

Multiple Choice

In contract law, the terms of the offer must be accepted exactly as stated by the offeror and must be unequivocal. This is known as which of the following?

• A) The original rule
• B) The mailbox rule
• C) The mirror image rule
• D) The marginal rule

---

Definitions:

Unearned Revenues

Unearned revenues refer to money received by a company for goods or services that have not yet been provided to the customer.

Liability

A financial obligation or debt owed by an individual or company to another entity, requiring the transfer of resources at a future date.

Credits

An accounting entry that increases liabilities or equity or decreases assets on a company's balance sheet.

Debits

Debits are accounting entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts, typically noted on the left side of accounting ledgers.