Offers That Fail to Provide a Specific Time for Acceptance

question 33

Multiple Choice

Offers that fail to provide a specific time for acceptance :

• A) are considered to be illegal.
• B) are valid for a reasonable period for time.
• C) are valid but unenforceable.
• D) can be used to penalize the offeror.

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Definitions:

Discount Bond

A bond sold for less than its face value and will mature at its face value, resulting in capital appreciation.

Straight-Line Method

A depreciation technique that applies consistent expense allocation over the useful life of a fixed asset (a rephrased definition of Straight-Line Depreciation).

Semiannually

Occurring twice a year; typically referring to processes or events that happen every six months.

Straight-Line Method

A depreciation technique that allocates an equal amount of the asset's cost to each year of its useful life.