A revocation is the calling back of the offer by the offeror, with the exception of an option contracted in a firm offer, an offer may be revoked any time before it has been accepted Make a justification of the narrative by clearly Describing the element of an offer and explain the methods and the circumstances under which the offer may be revoked.
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A revocation is the calling back of the offer by the offeror, with the exception of an option contracted in a firm offer, an offer may be revoked any time before it has been accepted
Make a justification of the narrative by clearly Describing the element of an offer and explain the methods and the circumstances under which the offer may be revoked.
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- Bill offers to sell his car to Tom for $9,000. Tom replies, “Your price is too high! I will offer to buy your car for $8,000.” Tom’s response is: A) a counteroffer B) a rejection of the original offer only C) the creation of a new offer only D) a refusal to deal.Explain the difference between a docketing fee and a cancellation fee of an arbitrator.Which one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?
- After researching Best Buy common stock, Sally Wang is convinced the stock is overpriced. She contacts her account executive and arranges to sell short 550 shares of Best Buy. At the time of the sale, a share of common stock had a value of $148. Three months later, Best Buy is selling for $140 a share, and Sally instructs her broker to cover her short transaction. Total commissions to buy and sell the stock were $58. What is her profit for this short transaction?Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusalOn April 1, Orizon LLC sent Jim Stevens a letter via overnight delivery, offering to employ him to audit Orizon, LLC’s financial statements for the current year for $10,000. In the letter, Orizon, LLC stated that Jim had ten days to accept. On April 5, Jim sent Orizon, LLC a fax that stated, "The price for the audit seems too low. Would you consider paying $12,000?" Orizon, LLC received the fax. The next day, Serena Williams heard about the offer to Jim and said to Orizon, LLC, “I will accept that offer!” On learning of Serena’s statement, Jim immediately e-mailed Orizon, LLC agreeing to do the work for $10,000. Orizon, LLC received this e-mail on April 7. 1. Explain in detail why Orizon, LLC and Jim do, or do not, have a contract. 2. If you did not discuss it already, would applying the mailbox rule change your answer in #1? 3. Can Serena accept this offer?
- 81. Which of the following statements about a short sale is true? a. The seller's lien holder must forgive any shortfalls if there are any b. Sales proceed are inefficient to pay off liens c. The possibility of a short sale is not a material fact until contract has been formed noting information d. The seller must bring additional funds to satisfy liens to settlementHyde is a broker involved in a conflicting demands settlement procedure that has already begun. The escrow funds are held in an attorney's escrow account. Hyde seeks an EDO from the FREC. How will the FREC likely respond? The FREC will not issue an EDO because the funds are in an attorney's escrow account. The FREC will issue an EDO within ten business days. The FREC will issue an EDO if the other three settlement procedures don't work. The FREC will not issue an EDO because the dispute must be settledWhich of the following statements is TRUE about an ultra vires transaction?Group of answer choices Its effect has been reduced under the Companies Act since it is no longer deemed an invalid transaction. Under common law, the transaction could be ratified by the company. Members, debenture holders (or their trustees) of the company cannot take an action to restrain such transactions under the Companies Act. Under common law, it was a voidable transaction hence the company could decide whether to continue with the transaction or not.
- If a prospect does NOT submit the initial premium with an application, the producer Su A refuse the application submit the application to the insurance company and advance the premium for the prospect from the agency account submit the application to the insurance company without the premium give the applicant a conditional receipt and send the application to the insurance company without the premium OB OC. ODOffer, acceptance, and consideration are necessary elements of A a warranty a representation a contract insurable interest B. DL.L. Bean sends a catalogue to Olivia. A letter addressed to Olivia is attached to the cover of the catalogue. In the letter, the CEO of the company invites Olivia to buy any item in the catalogue at the listed price. This is a. an offer because there is no room for price negotiation. b. not an offer. c. an offer because of the letter. d. an offer only if Olivia previously bought items from L.L. Bean.