If an Offeree Dies Before the Offer Has Been Accepted

question 51

Multiple Choice

If an offeree dies before the offer has been accepted, the offer:

• A) may be rejected by the surviving spouse of the offeree.
• B) may be accepted by the surviving spouse of the offeree.
• C) is automatically revoked by the death of the offeree.
• D) may be accepted by the guardian appointed for any minor children of the offeree.

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Definitions:

Implications

The possible effects or consequences of an action or decision, often considered in the context of planning or analysis.

Interest Rate

A charge, represented as a percentage of the principal, assessed by a lender for allowing a borrower to use their resources.

Future Value

The value of a current asset at a specified date in the future based on assumed growth rates or interest rates.

Interest Rate

The part of a loan that attracts interest charges for the borrower, customarily expressed as a yearly percentage of the loan's unpaid balance.