Practice Quiz

CLEP Business Law

Category - Contracts

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Which are three ways in which a party can communicate acceptance of an offer?
  1. Counter offer, silence, or promise.
  2. Performance, silence, or promise.
  3. Performance, counteroffer, or promise.
  4. Silence, revocation, or performance.
  5. Silence, counteroffer, or revocation.
Explanation
Answer: C. A party can communicate acceptance of an offer by performance, counteroffer, or promise. In order for a contract to be formed, an offeree must accept the offer. Acceptance does not have to be made verbally or in written words. It can be communicated by action or by silence.
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