Generally considered the master of the offer

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Reference no: EM132123357

1. Someone who makes an offer for a contract is generally considered the "master of the offer" who can revoke the offer at any time. In which of the following circumstances is an offeror not allowed to revoke his offer?

A. If the person making the offer tells the person who receives the offer that the offer will remain open for a certain period of time -- in these circumstances, the offeror cannot revoke acceptance before that period of time expires.

B. In the event of a firm offer under the UCC, so long as all requirements are met and the offer relates to the sale of goods.

C. If the offer is one for a unilateral contract, and the offeree has begun substantial performance.

D. All of the above

E. Two of the above are correct.

2. Ron recently moved into a flat in the Oak Wood apartments. He often receives confidential letters and documents regarding work and his finances. As Ron is at work all day, he has asked his neighbor to collect his mail. When the pieces of mail are given to him, Ron believes that he is the first one to open them. Ron has a high degree of _____.

power-based trust

informational justice

cognition-based trust

moral awareness

trust propensity

Reference no: EM132123357

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