If an Offeree Makes a Mistake and Sends an Acceptance

question 24

True/False

If an offeree makes a mistake and sends an acceptance to the wrong address, there is an acceptance upon dispatch.

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Definitions:

Cash Dividends

Payments made by a corporation to its shareholders as a distribution of profits, typically in cash form, reflecting the company's profitability.

Cost Method

An accounting method used for investments, where the investment is recorded at its acquisition cost and adjustments are made for dividends received and changes in fair value are not recorded.

Trading Securities

Financial instruments bought and held primarily for selling them in the near term to profit from short-term price movements.

Fair Value

An estimate of the market value of an asset or liability, based on the price at which willing parties would enter into a transaction.