Question
Sunshine Juice Co. in Ontario is negotiating with CherryCo in British Columbia for the purchase of cherries for use in fruit juice. If Sunshine Juice
Sunshine Juice Co. in Ontario is negotiating with CherryCo in British Columbia for the purchase of cherries for use in fruit juice. If Sunshine Juice Co offers to buy 1000 kg of cherries from CherryCo for $25,000 payable 30 days after delivery and CherryCo responds; "We agree but will require 50% payment in advance", which statement best describes the situation?
| a. | A contract has not been formed because CherryCo has made a counteroffer which has not yet been accepted by Sunshine Juice Co. | |
| b. | A contract has not been formed because the initial offer has lapsed. | |
| c. | A contract has been formed because CherryCo has accepted the offer of Sunshine Juice Co. | |
| d. | A contract has not been formed because CherryCo has revoked the offer of Sunshine Juice Co |
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Principles of Macroeconomics
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
12th edition
978-0134078809
