If an Offer Is Indefinite or Vague, No Contract Arises

question 8

True/False

If an offer is indefinite or vague, no contract arises from an attempt to accept it.

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Definitions:

Lump Sum

A one-time payment made at a specific moment, rather than multiple smaller payments spread over time.

Savings Options

Various financial vehicles available for setting aside money, such as savings accounts, certificates of deposit, and money market funds, with the aim of earning a return.

Compounded Weekly

Refers to interest earned or paid that is calculated on a weekly basis, with each week's interest added to the principal amount.