1. When, generally speaking, is a revocation effective?

	a.	When it is mailed by the offeror.
	b.	When it is received by the offeree.
	c.	Immediately upon the offeror's decision to revoke.
	d.	Within 24 hours of the offer being made.
	e.	Whenever the offeror decides not to accept the offer.

1 points

QUESTION 6

1. When a counteroffer is made, what happens to the original offer?

	a.	It remains in effect in all circumstances.
	b.	It terminates.
	c.	It remains in effect unless the counteroffer is materially different.
	d.	It remains in effect only if the original offer specified a designated acceptance time.
	e.	It terminates, but only if the counteroffer specifically states that the original offer is unacceptable.

1 points

QUESTION 7

1. According to the Restatement, if no mode of communication is specified in the offer, then ________.

	a.	the offer is invalid
	b.	the acceptance is valid, but only if made within a month
	c.	the acceptance cannot be valid
	d.	any reasonable means of acceptance is valid
	e.	there must be a written acceptance of the offer to be valid