An Offer That Has Unclear Major Terms, or Is Missing

question 253

Multiple Choice

An offer that has unclear major terms, or is missing important terms:

• A) can be the basis for an implicit, but not express, contract
• B) can be the basis for an express, but not implicit, contract
• C) makes the offeree liable if not executed properly
• D) makes the offeror liable if not executed properly
• E) none of the other choices are correct

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Definitions:

Market Value

The market value denotes the ongoing rate at which an asset or service can be traded in a marketplace.

Market Value

The present rate at which a service or asset is available for purchase or sale on the open market.

Present Value

Present Value is a financial concept that calculates the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Contract Interest Rate

The interest rate specified in a loan or bond agreement, representing the cost of borrowing or the rate of return promised to lenders.