Under the objective theory of contracts

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Reference no: EM132136787

1. Under the objective theory of contracts, a contract could result from an offer in which of the following circumstances:

- Where the offer was clearly made as a joke.

- Where the offer was clearly made in a state of extreme anger.

- If a reasonable person would conclude that the person making the offer intended to enter into a contract regardless of his subjective or hidden intent).

- All of the above.

2. Susan offered to sell her bicycle to Bruce for $150. Bruce said that $150 was too much, but that he would give her $100. Susan said no. Then, Bruce said that he would pay Susan the entire $150. Which of the following statements best describes this situation? Check all that apply.

- Bruce's statement that he would give Susan $100 operated as a rejection of Susan's original offer.

- Susan has effectively revoked her offer.

- Bruce's statement that he would give Susan $100 operated as an offer by Bruce.

- Bruce has effectively accepted Susan's original offer

Reference no: EM132136787

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