The Offeror Makes an Offer by Mail

question 48

True/False

The offeror makes an offer by mail. Generally, unless otherwise specified, the offeree may accept the offer by using the same or faster means of communication. ​

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Definitions:

Statute of Frauds

A legal requirement that certain types of contracts be memorialized in a signed writing with sufficient content to evidence the contract.

Contract of Guarantee

A contract where a third party agrees to be responsible for the debt or obligations of a borrower in case the borrower fails to fulfill their contractual obligations.

Unsigned Note

A note or document that lacks the signature of the party or parties involved, potentially affecting its legal enforceability.

Consideration

The value (such as money, services, or goods) that is given in exchange for a contractual promise or action.