ACC 612 Certification Exam Questions and CORRECT Answers

On April 2, Jet Co. wrote to Ard, offering to buy Ard's building for $350,000. The offer contained all of the essential terms to form a binding contract and was duly signed by Jet's president. It further provided that the offer would remain open until May 30 and an acceptance would not be effective until received by Jet. On April 10, Ard accepted Jet's offer by mail. The acceptance was received by Jet on April 14. For this item only, assume that on April 13 Ard sent a letter to Jet withdrawing the acceptance and rejecting Jet's offer and that Jet received the letter on April 15. Under the circumstances,A contract was formed on April 14 Carson Corp., a retail chain, asked Alto Construction to fix a broken window at one of Carson's stores. Alto offered to make the repairs within 3 days at a price to be agreed on after the work was completed. A contract based on Alto's offer would fail because of indefiniteness as to thePrice involved