Which of the Following Is True Regarding the Termination of an Offer

question 23

Multiple Choice

Which of the following is true regarding the termination of an offer based on a rejection?

• A)Regardless of how long an offeror states that an offer will be held open,once the offeree rejects it,the offer is terminated.
• B)An offer must remain open for at least three days before it is terminated following a rejection by an offeree.
• C)An offer must remain open for at least two days before it is terminated following a rejection by an offeree.
• D)An offer must remain open for at least one day before it is terminated following a rejection by an offeree.
• E)Even on rejection,an offer is not terminated until the expiration of the time period for which it was originally to remain open.

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Definitions:

Gasohol

A fuel mixture containing gasoline and ethanol, typically used in internal combustion engines.

Corn-Based Ethanol

Ethanol produced from corn, used as a biofuel additive for gasoline to reduce carbon emissions and reliance on fossil fuels.

Price-Inelastic

A characteristic of a good or service for which demand does not significantly change with a change in price, often essential or with few substitutes.

Agricultural Products

Items derived from agriculture or farming, including crops and livestock.