Contracts
A Nebraska buyer submits an offer to purchase that expires at 5:00 PM. At 4:58 PM, the seller signs the acceptance. At 5:02 PM, the seller's agent communicates acceptance to the buyer. Is there a valid contract?
AYes — the seller signed before the deadline
BNo — communication of acceptance occurred after the offer expired✓ Correct
CYes — a 2-minute delay is not material
DIt depends on whether the buyer was available at 5:00 PM
Explanation
For a valid contract, acceptance must be communicated to the offeror before the offer expires. Although the seller signed at 4:58, communication occurred at 5:02 — after the offer expired.
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