Joe Sends Sanjay an Offer Via Email from His Toronto

question 67

Multiple Choice

Joe sends Sanjay an offer via email from his Toronto office.The offer contains a provision indicating the offer expires at 5:00 p.m.Toronto time.Sanjay,who lives in Vancouver,replies accepting Joe's offer at 4:00 p.m.Vancouver time.Joe received Sanjay's email acceptance at 9:00a.m.the next day.Which of the following statements is true? (Note the three-hour time difference between Toronto and Vancouver.)

• A) Joe and Sanjay had a binding contract, since Sanjay had accepted by 4:00 p.m. Vancouver time.
• B) Once Sanjay had sent the email, a binding contract had been formed, regardless of what time Joe received the email.
• C) Joe's offer had expired.
• D) The contract became binding once Joe had made the offer.
• E) A binding contract had been formed once Joe opened Sanjay's email acceptance the next day.

Recognize the impact of incidental shopping experiences on consumer behavior.

Grasp the importance of information search in the consumer decision-making process.

Identify different perspectives on decision-making and their implications.

Understand product positioning and how it influences consumer perception and decision-making.

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Definitions:

Explanatory Variables

Variables in a statistical model that are believed to cause, or explain, changes in the response variable.

Unit Change

refers to a single increment change in the independent variable value, examining its effect on the dependent variable.

Average Change

The mean difference between values in a series of data points, representing the typical increase or decrease over time.

Y-Intercept

The point where a line or curve crosses the y-axis of a graph, indicating the value of the dependent variable when the independent variable is zero.