Franz Bought Two Front-Row Tickets to a Sold-Out Concert

question 13

Multiple Choice

Franz bought two front-row tickets to a sold-out concert.Unfortunately,a week before the concert,he found out he had to go on a business trip and would miss the concert.He offered his co-worker,Joe,the tickets for 80% of the full price,offer to remain open until 10:00 p.m.on December 15.Indicate to Joe which of the following is true with regard to the law of offer and acceptance.

• A)If Franz sells to someone else,it is too late for Joe to accept the original offer.
• B)A letter of acceptance is always effective when it is dropped in the mailbox.
• C)If Joe makes a counter-offer of 50% of the full price,and Franz rejects the counter-offer,Joe can still accept the original offer.
• D)Franz could revoke the offer at any time before acceptance,even before 10:00 p.m.on December 15.
• E)To create a contract,an offer must be in writing.

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Definitions:

Debriefing

A discussion or interview that follows after a task or experiment, often used in psychological studies to explain the purpose and need for the study, and to ensure the well-being of participants.

Clinical Interview

A method used by psychologists to gather information about a person's mental health and functioning through a structured conversation.

Internal Reliability

A measure of the consistency of the results delivered by items of a test that are intended to measure the same concept.

Discriminant Validity

The extent to which a measurement instrument is not related to variables from which it is theoretically supposed to differ.