In 1971 Poorwa offered to sell her new Ford Mustang to Tom for $2000.00. Tom asked to think about her offer and get back to Poorwa. 40 years later, Tom realizes Poorwa still has the Mustang that is now worth $121,000.00. He calls up Poorwa and says that he has finally had time to think about it and he now accepts Poorwa's offer from 1971 to buy the Mustang at $2000.00. Which statement below is correct?
A) Since the facts do not indicate that Poorwa ever formally revoked the offer, it remained open and Tom's acceptance created mutual assent.
B) Since Poorwa allowed Tom to think about it, the offer remained open until Tom notified her of his decision.
C) The offer terminated after a reasonable amount of time had lapsed.
D) All offers under the Uniform Commercial Code automatically terminate after 10 years.
Correct Answer:
Verified
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