Marilyn Read an Ad in the School Newspaper Offering a $1,000

question 51

Multiple Choice

Marilyn read an ad in the school newspaper offering a $1,000 swimming scholarship to anyone who could swim 500 laps in the school pool. Marilyn called the advertiser and began swimming. She has reached lap number 460; she feels great and is sure she can make it all the way. The advertiser:

• A) may revoke the offer since there has not yet been an acceptance.
• B) may not revoke the offer since Marilyn has already accepted it.
• C) must permit Marilyn the opportunity to finish her attempt to swim the 500 laps, or pay damages if he interferes with the completion of the laps.
• D) must pay Marilyn $920, because she has performed 92% of the offer.

---

Definitions:

Terms

Terms and conditions outlined within a contract or agreement.

Redeemed

The process of exchanging a financial instrument or coupon for its value in money or goods.

Inflation

The speed at which the overall price level of goods and services increases, leading to a decrease in buying power.

Bond

A financial tool that signifies a lending agreement where an investor lends money to a borrower, usually a company or government entity, guaranteeing a fixed return.