Wes, Who Is an Art Collector, Offered to Buy a Print

question 50

Multiple Choice

Wes, who is an art collector, offered to buy a print from Le Monde Gallery. Le Monde balked at the price, sending Wes a letter of rejection. That day it discovered that the print was not as highly valued as originally thought. Le Monde immediately telephoned Wes to accept his offer. Is there a contract?

• A) Yes, since the acceptance was received before the rejection.
• B) No, because the rejection was effective upon dispatch.
• C) No, because the rejection terminated the offer.
• D) Yes, because the acceptance is always effective upon dispatch.

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Definitions:

Identity Theft

When criminals obtain personal information that allows them to impersonate someone else in order to use their credit to obtain financial accounts and make purchases.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.

Personal Information

Data related to an individual that can identify them, such as name, address, email, and financial details.