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CLEP Business Law

Category - Contracts

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Which of the following offers, upon acceptance, gives rise to a binding, nonvoidable agreement?

An offer made in jest
An advertisement
An offer made as a mistake
An offer made by a minor
None of the above.

Explanation

Answer: E. Neither an offer made in jest, an advertisement, an offer made as a mistake, or an offer made by a minor give rise to a binding, nonvoidable agreement. In order for an offer to be valid, the offeror must intend to be bound and have the capacity to enter into a contract. A court will consider the circumstances surrounding the offer to determine if the resulting contract is enforceable, void, or voidable.

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