Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nevin negotiates a deal for the sale of twenty - five acres of farmland to Otis. Nevin promises to hold the offer open in return

Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis. Nevin promises to hold the offer open in return for a small payment, but does not state an exact period of time. With respect to this offer
a.
the deal is done.
b.
a reasonable period of time is implied.
c.
the deal is binding except for the promise to hold the offer open.
d.
the offer must be held open for an indefinite period.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Management

Authors: John Thompson, Frank Martin

5th Edition

1844800830, 9781844800834

More Books

Students also viewed these General Management questions