Question

On Monday Monty says to Benny, " I will sell you my riding lawn mower for $2000. You have until Friday to decide." As of Wednesday, Benny has paid nothing to Monty and has not indicated if he is interested in buying the lawnmower. At this point, which is true?
a. Monty can revoke the offer on Wednesday.
b. Benny must reject Monty's offer by Friday, or else he has bought the lawnmower.
c. Monty cannot revoke the offer on Wednesday.
d. Benny could send $250 to Monty on Friday which would automatically make the offer irrevocable for one month.

Answer 1

Answer:

The sentence that is true about the situation described in the paragraph is:

a. Monty can revoke the offer on Wednesday..

Explanation:

First, for understanding the reality of the situation, nobody of two: Monty or Benny, are legally forced to comply, because for that conversation be an "oral contract" is missing an important component:

• Acceptance of the offer.

When Monty offered his riding lawn mower to Benny, Benny doesn't accept the offer, by this reason, though Monty gave until Friday to decide to Benny, legally, if he finds a buyer on Wednesday, he can sell it, because there is not money for the object or acceptance intention.