Victor Enterprise Inc

question 98

Multiple Choice

Victor Enterprise Inc. writes a letter dated August 1 to Hallway Stores, offering to sell table lamps to Hallway Stores at $80 each for the next one month. In mid August, Victor Enterprises receives an offer from Shine Retailers to purchase the table lamps at a price of $85 each. Can Victor withdraw its offer to Hallway Stores?

• A) Yes, as this is only an option.
• B) No, since the doctrine of promissory estoppel is applicable.
• C) Yes, the offer was simply an invitation to negotiate.
• D) No, as this is a firm offer.
• E) Yes, the offer may be withdrawn since it lacks consideration.

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Definitions:

Achievement Situations

Contexts or scenarios in which an individual's performance is measured and evaluated against a standard or against others.

Motive for Success

Refers to the drive or desire within individuals to achieve success and accomplish their goals.

Mastery

The comprehensive knowledge or skill in a subject or accomplishment, demonstrating a high level of expertise.

Performance

The act of carrying out a task or function, often measured against pre-determined standards of accuracy, completeness, cost, and speed.