Asked by Shannon Forbes on Jul 21, 2024
Verified
In the case of an open offer,there must be merely reasonable intent,clear and reasonably definite terms,and communication to the offeree.
Open Offer
An invitation to all shareholders to purchase additional shares in the company, typically at a discount, and not limited to a specific number of shareholders.
Reasonable Intent
A legal standard assessing what a person of ordinary intelligence and prudence would intend under certain circumstances.
- Understand the framework and assembly of contracts that are legally binding, including the critical features of offer, acceptance, and consideration.
Verified Answer
SM
Sojan ManuelJul 23, 2024
Final Answer :
False
Explanation :
In the case of an open offer, there must be a clear intent to make an offer, specific and definite terms, and communication of the offer to the offeree. Mere reasonable intent is not sufficient; the intent must be clear.
Learning Objectives
- Understand the framework and assembly of contracts that are legally binding, including the critical features of offer, acceptance, and consideration.
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