Kevin has been offered the position of vice-president by the Earnest Group Pvt. Ltd. at their head office in Washington
D.C. Earnest Group has also offered to provide Kevin and his family with a house, and an annual salary of $100,000. Kevin replied stating that he would accept the offer if the company would pay him an annual salary of $150,000, and relocation expenses. Analyze the agreements between the parties.
Kevin and Earnest Group have not created a contract yet. Kevin has not accepted the offer but has made a counteroffer when he asked Earnest an annual salary of $150,000 and relocation expenses. Hence, Earnest's original offer is now terminated. For a contract to exist, the offeree has to express acceptance. If Earnest accepts Kevin's counteroffer, the contract would be valid.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q64: Ajax Pvt. Ltd. made a promise to
Q65: Electronics, Inc., sells 250 radios on credit
Q66: Which of the following terms refers to
Q67: Tony's Carpets wants to charge $9.80 a
Q68: If a minor fails to disaffirm a
Q70: Barney takes his wife Betty to a
Q71: Which of the following oral contracts can
Q72: Which of the following involves an intentional
Q73: Which of the following terms refers to
Q74: Sam goes to a supermarket and fills
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