When Communicating Acceptance of an Offer, a Stipulation

question 47

Multiple Choice

When communicating acceptance of an offer, a stipulation:

• A) is a condition made by the offeror about the manner in which the offer must be accepted.
• B) is a contingency clause built into a unilateral contract.
• C) requires acceptance in writing, else the attempt to accept becomes ineffective.
• D) needs a timely expression of acceptance.

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Definitions:

Partial Equilibrium

An analysis focusing on the equilibrium in a single market without considering its effects on or from other markets.

Equilibrium Conditions

A state in a market where the quantity of a good supplied equals the quantity demanded, resulting in market stability and no pressure for price changes.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity that suppliers are willing to offer for sale over a given period.

Capital Flow

The movement of money for the purpose of investment, trade, or business production.