A contract comes into existence when an offeree communicates his/her ________ to the offeror.

Question

Quizplus · Accepted Answer

A contract is formed when there is an offer and an acceptance of that offer. The offeree must communicate their acceptance to the offeror in order for the contract to come into existence. A counteroffer, which is a rejection of the original offer and a new offer in response, does not create a contract until the original offeror accepts the counteroffer. Revocation occurs when the offeror withdraws their offer before the offeree has accepted it, which terminates the offer. A firm offer is a specific type of offer that arises under the UCC and must be in writing.

A Contract Comes into Existence When an Offeree Communicates His/her