X and Y Live in the Same Suburb

question 2

Multiple Choice

X and Y live in the same suburb.X offers to sell Y his luxury yacht and tells Y to respond by post.Y posts a letter accepting the offer.The following evening Y changes her mind and calls X and leaves a message on X's voicemail saying that the offer is not accepted.Which of the following is correct?

• A)A contract was formed when Y sent the letter and prior to Y's phone call as that was when Y's acceptance will be deemed to have been communicated according to the postal rule.
• B)There is no contract because Y effectively communicated her rejection of the offer.
• C)There is no contract because offers cannot be accepted by post.
• D)A contract was formed as soon as X received Y's voicemail message.

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Definitions:

Realistic

Describes something that is practical, feasible, and grounded in reality.

Three Pillars

A concept often referring to the essential components or principles that support and sustain a structure, system, or strategy, such as sustainability's economic, social, and environmental pillars.

Triple Bottom Line

A sustainability framework that evaluates a company's performance based on three dimensions: social, environmental, and financial, encouraging businesses to look beyond profits.

Profits

The financial gain that a business makes after subtracting its expenses from its revenue, indicating the overall financial success and viability of the enterprise.