Chapter 6-2: Termination of Offers

The right of ________ allows an offeror to withdraw an offer before it is accepted.

• time

• terminated

• revocation

• counteroffer

An acceptance to an offer must be received within the ________ stated in the offer.

• time

• terminated

• revocation

• counteroffer

When an offeree rejects the offer, the offer is _________ .

• time

• terminated

• revocation

• counteroffer

A(n) ________ results when the offeree changes the offeror’s terms.

• time

• terminated

• revocation

• counteroffer

A(n) _______ is made when an offeree gives the offeror something of value in return for a promise to keep the offer open.

• merchants

• option

• original

• Uniform Commercial Code

A counteroffer terminates the _______ offer.

• merchants

• option

• original

• Uniform Commercial Code

The ______________ makes firm offers binding for the time stated.

• merchants

• option

• original

• Uniform Commercial Code

A contractual proposal by a merchant for the sale of purchase of goods stated in a signed writing how long it is to stay open is called a __________.

• time

• terminated

• firm offer

• insanity

_________ are those who regularly deal in bought or sold goods.

• merchants

• terminated

• firm offer

• insanity

Death of ________ on the part of the offeror or the offeree terminates their offer.

• merchants

• terminated

• firm offer

• insanity