Business Law 13th Edition by Frank Cross, Kenneth Clarkson, Roger LeRoy Miller

Exercise 3

Fidelity Corporation offers to hire Ron to replace Monica, who has given Fidelity a month's notice of intent to quit. Fidelity gives Ron a week to decide whether to accept. Two days later, Monica decides not to quit and signs an employment contract with Fidelity for another year. The next day, Monica tells Ron of the new contract. Ron immediately faxes a formal letter of acceptance to Fidelity. Do Fidelity and Ron have a contract? Why or why not? (See page 247.)
Before the Test
Go to www.cengagebrain.com, enter the ISBN 9781285185248, and click on "Find" to locate this textbook's Web site. Then, click on "Access Now" under "Study Tools," and select Chapter 12 at the top. There, you will find a Practice Quiz that you can take to assess your mastery of the concepts in this chapter, as well as Flashcards and a Glossary of important terms.