Contracts
A Mississippi buyer submits an offer with a 48-hour acceptance deadline. The seller calls the buyer's agent 50 hours later to accept. This constitutes:
AA valid acceptance since one phone call is sufficient
BA counteroffer, since the original offer expired before acceptance✓ Correct
CAn invalid acceptance that the buyer must honor out of good faith
DA valid acceptance with a minor delay that is ignored by law
Explanation
When an offer's deadline for acceptance expires, the offer lapses. An attempted acceptance after the deadline creates a new offer (a counteroffer from the seller).
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