Question

True or false Baker made an offer to Able. Able made a counteroffer to Baker. If...

True or false

Baker made an offer to Able. Able made a counteroffer to Baker. If Baker rejects the counteroffer and if Able decides he still wants to “do the deal” with Baker, he can always accept Baker’s original offer.

A minor can never ratify an offer while she is still under the age of majority.

3. ________ Offers, acceptance of offers, and revocations of offers all become legally binding when mailed in a properly addressed envelope.

4. ________ Performing an act which one already had a pre-existing legal obligation to perform can constitute valid consideration.

Business   Economics   
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Answer #1

1. False
Once an original offer is rejected by à counter offer it can never be accepted again in original.

2. True
A minor can never ratify an offer while still under the age of majority.

3. False
On mailing properly in addressed envelope the offers, acceptance and revocation are not legally binding. They can be withdrawn when after this act and can have an effect of mailed document null and void.

4. False
Performing an act which one already had a pre existing legal obligation to perform can not constitute a valid consideration.

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