Business, 19.05.2021 18:40 zakwolthuis

Patrick offered to sell his house to Jarrod for $50,000. Jarrod was interested but did notwish to decide immediately so he asked Patrick if he would hold the offer open for thirty daysin exchange for fifty dollars. Patrick agreed. Three days later Jarrod called Patrick and told him he doubted he would purchase the property because his family was not enthusiastic about moving, but he was still trying toconvince them to relocate. The next week, Patrick sold the house to Nick.

a. Jarrod may no longer accept the offer because Patrick changed his position.
b. Jarrod still may accept the offer because Patrick’s offer was irrevocable for 30 days.
c. Jarrod still may accept the offer because his telephone conversation did not constitutea rejection and the option period has not expired.
d. Jarrod still may accept the offer because a rejection never terminates the power of acceptance in an option contract.

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Patrick offered to sell his house to Jarrod for $50,000. Jarrod was interested but did notwish to de...