An Offeree Who Wishes to Bind the Offeror to the Contract

question 75

Multiple Choice

An offeree who wishes to bind the offeror to the contract may do which of the following with an offer?

• A) Accept it
• B) Modify it slightly before acceptance
• C) Withdraw it prior to acceptance
• D) Accept and counter with conditions

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Definitions:

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and other forms of involvement.

Traffic Lights

Signaling devices positioned at road intersections, pedestrian crossings, and other locations to control flows of traffic.

Nonpayers

Individuals or entities that do not contribute payments towards a service or good from which they benefit.

Public Good

A good that is non-excludable and non-rivalrous, meaning that its consumption by one individual does not reduce availability to others.