If There Is No Time Specified for the Acceptance of an Offer

question 11

Multiple Choice

If there is no time specified for the acceptance of an offer, when does the offer terminate?

• A)After 24 hours.
• B)After 48 hours.
• C)After two weeks.
• D)After a reasonable period of time.

---

Definitions:

Cash Payments

Transactions involving the outflow of cash to settle debts, purchase goods, or cover expenses.

Canceled Checks

Checks that have been paid by the bank, marked as canceled, and are no longer negotiable.

Payee

The entity in a financial deal that gets the payment.

Bank Deposits

Funds placed into a bank account by a depositor, including cash and checks, for safekeeping and potential interest earnings.