Michael offers to sell Julie his 1955 Thunderbird convertible. Before Julie can accept the offer, lightning strikes the car and it is totally destroyed. Which of the following is true?
a. Julie can still accept the offer. She will be entitled to the insurance proceeds.
b. The offer is terminated by law.
c. Michael can still revoke his offer so long as he does so before Julie accepts.
d. Julie can still accept the offer and Michael must find a 1955 Thunderbird to sell.
Answer: B
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Business Law Chapter 11
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