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36) What should an offeror do if it is really important that an offeree know an offer had been revoked? A) Email the revocation. It becomes effective as soon as it has been emailed. B) Deliver the revocation personally. C) Publish notification of the revocation in the newspaper. D) Ask the offeree if the offeree would sign off on the revocation of the offer. E) Mail the revocation. It becomes effective as soon as it is mailed. 37) If a person wishes to ensure that an offer will in fact be held open for a set period of time, the person may do so by entering into a[n] ________ contract with the offeror. A) Irrevocable B) Adhesion C) Option D) Clear E) Explicit 38) Mary is selling her house for $100,000 and Felipe, who is expecting an inheritance soon, wants to have the option to buy it next month at that price. Felipe gives Mary a $1,000 deposit in exchange for Mary’s promise that he can buy the house next month at $100,000 if he gets his inheritance. Mary and Felipe: A) Have an adhesion contract B) Do not have a contract because Felipe does not have the money yet. C) Have an option contract. D) Have a standard sales contract. E) Do not have a contract because Felipe has not promised to buy. 39) As a general rule, when is revocation effective? A) When it is received by the offeree. B) Two days after it is made. C) Three days after it is made. D) When it is mailed by the offeror. E) One day after it is made. 40) Joe’s car is for sale and he tells Tom that Tom can buy the car for $9,000 if he lets him know within that week. Joe later changes his mind and writes a letter to Tom, which he mails. Five minutes after Joe mails the letter, he receives a phone call from Joe accepting the offer to buy the car. Does Joe have to sell Tom the car? A) No, because Tom only called and did not come with the money for the car. B) No, because an offeror is master of his offer and can revoke it at any time. C) Yes, because an offeror is master of his offer and can revoke it at any time. D) No, because the mailbox rule says that a revocation becomes valid when it is mailed. E) Yes, because the offer stated it would be open for a period of time and it was accepted before the revocation reached the offeree. Â Â

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