Once Gianna had shopped her novel around to see if any publisher would publish it, Blair Publishing, a

North Carolina company, agreed to publish the novel. Blair Publishing stated that it would publish 100

copies at first for 50 % of the total revenue generated on the sales.

a. This statement by Blair Publishing is legally considered an _______________________.

Gianna wanted more to be published right away. She sent a response back to Blair Publishing stating the

following - "I would like to reach a deal. Can you publish 500 copies of the book for 20 % of the total

revenue on the sales?" I am intent on making this book sell and sell quickly.

b. Gianna's statement is legally know as a _________________________________.

Gianna waits for about two days when she receives a response from Blair Publishing. The response

states: "Based upon our early research about your book, we have found that those who read it love it!

We agree that 500 copies should be published and are willing to do so. We will accept the 20 % royalty

on the total revenue of the book sales in the following way. 30 % of total revenue on first 250 books.

And, 10 % on the total revenue for the second 250 books sold."

c. This statement from Blair Publishing is legally considered a _______________________.

Gianna sees that she is getting what she wants if she sells all 500, so she responds with - "That sounds

good to me. When can production of the books begin?"

d. Gianna's statement is legally considered an ________________________________.

e. What is the consideration for the agreement between Gianna and Blair Publishing?