Business Law Chapter 6 6-3

___________________ occurs when a party to whom an offer has been made agrees to the proposal.

• Acceptance

• Firm Offer

• Option

• Counter offer

If an offeror specifies in the offer that the acceptance must be made by fax, an e-mailed acceptance will not be effective.

• True

• False

All forms of acceptance take effect only when received.

• True

• False

If the parties to a contract have mutual obligations to perform it, the contract is termed

• unilateral

• bilateral

• none of these

When there is no specified or customary means for communicating acceptances, a faster means than that employed by the offer would be considered effective by the courts.

• True

• False