| A | B |
|---|
| invitations to negotiate | When an advertisement takes this form, the seller is inviting the customer to offer to buy the product at the advertised price. |
| The requirements of an offer | Made seriously, definite and certain, and communicated to the offeree |
| The reason most ads are invitations to negotiate | Sellers usually have limited merchandise to sell and can not possibly sell an advertised product to everyone who sees an ad. |
| Types of ads that are considered offers | Ads that contain specific promises or limit the number of items that will be sold. |
| The Requirements of an acceptance | The acceptance must be unconditional and follow the rules regarding the method of acceptance. |
| The mirror image rule | The acceptance must not change the terms of the offer in any way. |
| counteroffer | Any change in the terms of the offer means the offeree has not really accepted the offer, but has made a ___________. |
| According to common law, an acceptance that must be sent over long distances is effective when it is __________. | sent |
| An acceptance is implied when the offeree accepts by the same or _________ means than that used by the offeror. | faster |
| revocation | The taking back of an offer by the offeror. |
| An offer can be revoked any time before it is __________. | accepted |
| Revocation becomes effective when it is ______ by or communicated to the offeree. | received |
| rejection | Refusal of an offer by the offeree. This brings the offer to an end. |
| If the offeror sets a _______ limit for the acceptance of a offer, it must be honored. | time |
| If the offeror ___ or becomes insane before the offer is accepted, then the offer comes to an end. | dies |
| The 5 ways an offer can come to an end: | Revocation, rejection,counteroffer, expiration of time, or if the offeror dies or becomes insane before the offer is accepted. |
