Nina Sent a Letter to Adrian That Stated She Wanted

question 19

Multiple Choice

Nina sent a letter to Adrian that stated she wanted to hire him to decorate the interiors of her house.She wrote that he should accept the offer by mail.Adrian received the letter and telephoned Nina to say that he accepted the offer.Which of the following statements is true in this case?

• A) There is a valid acceptance and a binding contract because the telephone call was an authorized means of acceptance.
• B) There is a valid acceptance and a binding contract because the telephone call was a reasonable means of acceptance.
• C) There is a valid acceptance and a binding contract because the telephone call was a faster means of acceptance than the mail.
• D) There is no acceptance and no contract in this situation as it is clearly mentioned by the offeror that the acceptance must be by mail.

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Definitions:

Barriers to Entry

Factors that prevent or hinder companies from entering a specific market or industry, including high startup costs, strict regulations, and established competition, which can protect existing firms from new entrants.

Artificial Differences

Distinctions created or imposed in a situation or between objects that do not naturally or inherently exist.

Horizontal Differentiation

A strategy where products are made different from those of competitors on aspects other than price, such as quality or features, while aimed at satisfying the same basic need.

Product Mix

The variety of products a company offers for sale to meet market demand and enhance profitability.