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What Is Required in Order for an Offer to Be

question 23

Essay

What is required in order for an offer to be considered a firm offer under the UCC? If a firm offer is silent as to time, what is the effect? Compare this effect with the result of silence as to time under the common law.


Definitions:

Standard Deviation

A gauge for the amount of distribution or variation present in a sequence of numbers.

Mean

The mean of a collection of numbers, determined by adding all the numbers together and then dividing by the count of the numbers.

Standard Normal

A standard normal distribution characterized by a mean value of zero and a standard deviation measuring one.

Area

The measure of the extent of a two-dimensional figure or shape in a plane.

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