Adam owns a thoroughbred horse named Prince Charming that just ran in the Kentucky Derby. Prince Charming came in last, much to Adam's frustration and embarrassment. Adam exclaims in a loud voice, "I'm selling that horse to the first person who hands me $100 bucks!" Adam has:
a. not made an offer because under the circumstances a reasonable person would not conclude that John had intent to make an offer.
b. made a firm offer and will be bound by his offer for a reasonable period of time.
c. made an acceptance to the first person who can produce $100.
d. made an offer to anyone within hearing distance and will be bound by his offer to the first person who produces $100.
Answer: A
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Business Law Chapter 11
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