Gordon Sends a Letter to Thomas That Says, "I Will

question 47

Multiple Choice

Gordon sends a letter to Thomas that says, "I will buy your diesel engine for $7000." At exactly the same time, Thomas sends a letter to Gordon that says, "I will sell my diesel engine to you for $7000." Which of the following statements is TRUE?

• A)This situation is described as a "cross-acceptance."
• B)This situation involves a meeting of the minds.
• C)Both letters respond to an offer.
• D)This situation creates a bilateral contract.
• E)Each letter contains an offer, but neither contains an acceptance.

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Definitions:

Sustainable Practices

Business or organizational methods that aim to minimize negative impacts on the environment, society, and economy, focusing on long-term preservation and ethical responsibility.

Organizational Buyers

Entities such as companies, governments, and institutions that purchase goods and services for organizational purposes rather than personal use.

Not-for-Profit Organizations

Entities that operate for purposes other than making profit, often focusing on social, educational, or charitable work.

Raw Materials

Basic substances in their natural, modified, or semi-processed states, used as inputs to production or manufacturing processes.