Destruction of the Subject Matter Has What Effect on the Offer

question 42

Multiple Choice

Destruction of the subject matter has what effect on the offer?

• A) The offer is terminated.
• B) The offer is delayed until additional subject matter can be located.
• C) This creates an impossibility of fact that does not terminate the offer.
• D) The offer is merely delayed under the "Hardship Rule."

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Definitions:

Agency Relationship

A legal arrangement in which one party, the agent, acts on behalf of another party, the principal, in conducting transactions with third parties.

Bind

To legally obligate oneself or another party to an agreement or contract.

Principal

The main party to a transaction or contract, or the amount of money on which interest is paid or received.

Ratify

The official approval or confirmation of a treaty, contract, or agreement, making it valid and binding.