If an Offeree Dispatches Both an Acceptance and a Rejection

question 15

Multiple Choice

If an offeree dispatches both an acceptance and a rejection to an offer, _____.

• A) the acceptance is effective as soon as it is dispatched and a contract is created
• B) the rejection is effective as soon as it is dispatched and no contract can be created
• C) both the acceptance and the rejection are not effective and another response must be issued
• D) whichever response reaches the offeror first will determine whether a contract is created

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Definitions:

Portfolio

An assortment of financial assets such as equities, bonds, commodities, money, and near-money assets, encompassing both closed-end funds and exchange-traded funds (ETFs).

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two variables, ranging from -1 to 1.

Positively Correlated

A relationship between two variables in which they move in the same direction; as one increases, the other also increases.

Correlation Coefficient

A statistical measure that indicates the extent to which two variables fluctuate together.