If an Offer Specifies No Time Limit in Which to Accept

question 19

Multiple Choice

If an offer specifies no time limit in which to accept:

• A)the offeree has 30 days to respond.
• B)the offeree has 10 days to respond.
• C)the offeree has a reasonable period during which to accept.
• D)the offer is not valid due to its indefiniteness, therefore the time of acceptance is irrelevant.

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Definitions:

Power Generation

The process of producing electricity from various energy sources, including fossil fuels, nuclear power, and renewable resources like wind and solar.

Monetary Item

Financial assets and liabilities which are to be received or paid in fixed or determinable amounts of money.

Closing Rate

The exchange rate of one currency to another at the end of a trading session in the foreign exchange market.

Spot Exchange Rate

The current market price at which one currency can be exchanged for another currency.