Which of the following is true regarding the termination of an offer based on a rejection?

Which of the following refers to the right of an offeror to revoke an offer? 
A. The offeror is the "controller of his offer."
B. The offeror is the "master of his offer."
C. The offeror is the "proponent of his offer."
D. The offeror is the "adjudicator of his offer."
E. The offeror is the "arbiter of his offer."

If a person wishes to ensure that an offer will in fact be held open for a set period of time, the person may do so by entering into a[n] ______________ contract with the offeror. 
A. Clear
B. Explicit
C. Unrevokable
D. Option
E. None of the above

As a general rule, when is revocation effective? 
A. When it is mailed by the offeror.
B. When it is received by the offeree.
C. One day after it is made.
D. Two days after it is made.
E. Three days after it is made.

Which of the following is true regarding the termination of an offer based on a rejection? 
A. Regardless of how long an offeror states that an offer will be held open, once the offeree rejects it, the offer is terminated.
B. Even on rejection, an offer is not terminated until the expiration of the time period for which it was originally to remain open.
C. An offer must remain open for at least two days before it is terminated following a rejection by an offeree.
D. An offer must remain open for at least three days before it is terminated following a rejection by an offeree.
E. An offer must remain open for at least four days before it is terminated following a rejection by an offeree.

Which of the following is an offer made by an offeree to an offeror relating to the same matter as the original offer and proposing a substituted bargain differing from that proposed by the original offer? 
A. A revocation
B. An acceptance
C. A counteroffer
D. A cross offer
E. A bilateral offer

If a[n] __________ contract exists, the administrator of an offeror's estate must hold an offer open until it expires in accordance with the contract. 
A. Bilateral
B. Unilateral
C. Complete
D. Option
E. Bilateral or option

If the subject matter of an offer is destroyed, the offer _______. 
A. Immediately terminates
B. Is extended for seven days
C. Is extended for fourteen days
D. Is extended for twenty-one days
E. Is extended for thirty days

If the subject matter of an offer becomes illegal, what is the result? 
A. The offer immediately terminates.
B. There is no effect as long as the offer was made at least one day before the subject matter of the offer became illegal.
C. There is no effect as long as the offer was made at least ten days before the subject matter of the offer became illegal.
D. There is no effect as long as the offer was made at least fifteen days before the subject matter of the offer became illegal.
E. There is no effect as long as the offer was made at least thirty days before the subject matter of the offer became illegal.