Nevin negotiates a deal for the sale of twenty-five acres of farmland to Otis. Nevin promises to hold the offer open in return for a small payment but does not state an exact period of time. With respect to this offer
A)the deal is binding except for the promise to hold the offer open.
B)a reasonable period of time is implied.
C)the offer must be held open for an indefinite period.
D)the deal is done.

Question

Quizplus · Accepted Answer

A reasonable period of time is implied for offers where no specific time frame is stated, especially in cases where a consideration (like a small payment) is made to keep the offer open. This principle allows for the offer to be considered valid for a duration that is deemed reasonable under the circumstances, without binding the offeror indefinitely.

Nevin Negotiates a Deal for the Sale of Twenty-Five Acres