James Reston offered, via letter, to sell his mountain cabin to Jennifer Olsen for $375,000. Before Jennifer could respond, Reston died suddenly. What happens with the offer? a. The offer terminated with Reston's death. b. The offer is enforceable against the estate of Reston. c. The offer remains open until Reston's estate revokes it. d. Jennifer still has the power of acceptance for a reasonable period of time after Reston's death.

Question

Callahan

Business

14 June, 17:43

James Reston offered, via letter, to sell his mountain cabin to Jennifer Olsen for $375,000. Before Jennifer could respond, Reston died suddenly. What happens with the offer? a. The offer terminated with Reston's death. b. The offer is enforceable against the estate of Reston. c. The offer remains open until Reston's estate revokes it. d. Jennifer still has the power of acceptance for a reasonable period of time after Reston's death.

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Answers (1)

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Coy · Answer 1

A. The offer terminated with Reston's death.

Explanation:

According to the contract law, both parties have to agree with each other in terms of opinion and contract. The contractual agreement should be either mutually written or orally bound to become legal. In that case, James only offered to sell the mountain cabin to Jennifer. Since Jennifer did not respond whether to purchase it from James or not, it could not be a contract. Therefore, the option A is correct.