1. Which of the following is TRUE of an offer made in jest?

Under the subjective theory of contracts, joke is always treated as a serious offer. unless the person specifically; states: "I'm joking"

Under both the subjective and objective theory of contrats, even if an offer is clearly a joke, the words are treated as an offer.

Under the objective theory of contracts a joke is treated as a serious offer if the manifestation of intent would lead a reasonable person to believe it was intended as a serious offer.

Under the objective theory of contracts a joke is never treated as a serious offer if it was intended to be a joke.

Under either the objective or subjective theory of contract a court will look into a person's secret or hidden intent to discern if a joke was an offer or not.