Which of the Following Provides That a Revocation Is Effective

question 32

Multiple Choice

Which of the following provides that a revocation is effective only when received by the offeree?

• A)The Contract Rule
• B)The Acceptance Rule
• C)The Contract Legality Rule
• D)The Mailbox Rule
• E)The Reasonable Rule

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Definitions:

Interest

The cost of borrowing money, typically expressed as an annual percentage rate, or the income earned from lending money.

Agency Law

The legal principles governing the relationship between an agent, who acts for another person (the principal), and the rights and obligations that arise from this relationship.

Business Law

A branch of law that deals with the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.

E-Sign

E-Sign, the Electronic Signatures in Global and National Commerce Act, is a federal law that facilitates the use of electronic records and signatures in interstate and foreign commerce.