According to the Restatement, If No Mode of Communication Is

question 27

Multiple Choice

According to the Restatement, if no mode of communication is specified in the offer, then ________.

• A) the offer is invalid
• B) the acceptance is valid, but only if made within a month
• C) the acceptance cannot be valid
• D) any reasonable means of acceptance is valid
• E) there must be a written acceptance of the offer to be valid

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Definitions:

Interest Rates

The cost of borrowing money or the reward for saving, typically expressed as a percentage of the principal.

Premium

The amount by which the price of a financial instrument or insurance policy exceeds its face value or the cost above the normal price.

Modified Duration

A measure indicating the sensitivity of a bond's price to changes in interest rates, estimating the percentage price change for a parallel shift in yield curves.