James offers to sell four acres of land to Jennifer for $8,000 and further offers to keep the offer open for one month if Jennifer will pay him $100 for the privilege. Jennifer pays James $100. Which statement describes the payment of $100?
A) An implied in fact contract has been formed.
B) A unilateral contract has been formed.
C) This created a formal contract.
D) This created an option contract.
Correct Answer:
Verified
Q61: A conditional acceptance:
A) generally accepts the original
Q71: A _ is the refusal to accept
Q72: Michelle's Boutique places an ad in the
Q73: Jack has been in the business of
Q75: Which of the following would most likely
Q78: Lyle offers to sell his house to
Q78: If Anna Laura, in return for the
Q78: Arnold has offered to take Bob into
Q82: Bailey attended an auction and bid $150
Q93: For an offer to be valid:
A) the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents