{"id":204756,"date":"2025-03-22T14:41:02","date_gmt":"2025-03-22T14:41:02","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=204756"},"modified":"2025-03-22T14:41:05","modified_gmt":"2025-03-22T14:41:05","slug":"which-of-the-following-statements-is-true-about-the-acceptance-of-an-offer","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/03\/22\/which-of-the-following-statements-is-true-about-the-acceptance-of-an-offer\/","title":{"rendered":"Which of the following statements is true about the acceptance of an offer"},"content":{"rendered":"\n<p>Which of the following statements is true about the acceptance of an offer<\/p>\n\n\n\n<p>A Acceptance must follow the mirror image rule to create a binding contract<\/p>\n\n\n\n<p>B Unilateral contracts are accepted by making a promise<\/p>\n\n\n\n<p>C Counteroffer usually means an acceptance of an offer<\/p>\n\n\n\n<p>D Bilateral contracts are predominantly accepted by the offer performing the act<\/p>\n\n\n\n<p>E The languor of an offer is optional in determining the nature of contract and its acceptance<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-ast-global-color-6-color\"><strong>The correct answer and explanation is :<\/strong><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Answer: <strong>False<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Explanation:<\/h3>\n\n\n\n<p>In contract law, the <strong>languor (or delay) of an offer is not optional<\/strong> in determining the nature of a contract and its acceptance. Instead, the timing and duration of an offer are <strong>critical elements<\/strong> in contract formation.<\/p>\n\n\n\n<p>An <strong>offer<\/strong> is a definite promise by one party to another, expressing a willingness to enter into a contract under specified terms. However, an offer does not last indefinitely\u2014it must be accepted within a reasonable time or within a period specified by the offeror. If the offeree fails to accept the offer within the stipulated timeframe, the offer lapses, meaning it is no longer valid.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Importance of Timing in Contract Formation:<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Fixed Time Limit:<\/strong> If the offer specifies a deadline for acceptance, the offeree must respond before it expires. For example, if a seller offers to sell goods at a particular price valid until March 30, acceptance on April 1 would be invalid.<\/li>\n\n\n\n<li><strong>Reasonable Time:<\/strong> If no specific time frame is mentioned, the offer remains open for a <strong>reasonable period<\/strong>, depending on the nature of the contract, industry standards, and circumstances. A perishable goods contract, for instance, has a shorter reasonable time frame than a real estate transaction.<\/li>\n\n\n\n<li><strong>Revocation of Offer:<\/strong> An offeror can withdraw an offer <strong>before<\/strong> acceptance, provided the withdrawal is communicated to the offeree. Once revoked, the offer ceases to exist.<\/li>\n\n\n\n<li><strong>Effect of Lapse:<\/strong> If an offer lapses due to expiration, delay, or revocation, it <strong>cannot be accepted<\/strong>, and no valid contract is formed.<\/li>\n<\/ol>\n\n\n\n<p>Thus, the statement is <strong>false<\/strong> because <strong>the timing and duration of an offer are not optional but essential factors in contract acceptance<\/strong> and formation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which of the following statements is true about the acceptance of an offer A Acceptance must follow the mirror image rule to create a binding contract B Unilateral contracts are accepted by making a promise C Counteroffer usually means an acceptance of an offer D Bilateral contracts are predominantly accepted by the offer performing the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-204756","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/204756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=204756"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/204756\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=204756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=204756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=204756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}