When an Offer Does Not Specify a Means of Acceptance

question 68

True/False

When an offer does not specify a means of acceptance, it can be accepted by any means reasonable under the circumstances.

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Definitions:

Holder

In a financial context, a person or entity that possesses or owns a negotiable instrument, like a check or bond, and has the right to enforce the instrument.

Negotiable Instrument

A legal document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.

Security Interest

A legal claim or lien on collateral (property or assets) granted to secure the performance of an obligation, usually repayment of a debt.

Bank

A financial institution licensed to receive deposits, offer loans, and provide other financial services to individuals and businesses.