The General Rule Regarding Acceptance Is

question 180

Multiple Choice

The general rule regarding acceptance is:

• A) an acceptance is a void unless received by offeror within forty-eight hours of the offer
• B) all acceptances are valid and binding on offerors
• C) acceptances are valid when received by offerors
• D) an acceptance will be valid only if mailed to offeror
• E) none of the other choices

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Definitions:

Marginal Cost Function

A mathematical representation showing how the cost of producing one additional unit changes as production volume changes.

Market Price

The ongoing rate at which a commodity or service can be purchased or sold within the market.

Model Penal Code

A set of criminal laws developed as a guideline to standardize legal proceedings and penalties across the United States.

Capital Offense

A crime that is punishable by the death penalty, typically including the most serious offenses such as murder or treason.