If no time for acceptance is stated, an offer lapses after what?

If no time for acceptance is stated, an offer lapses after what?

• A. A reasonable time
• B. Three days
• C. Ten days
• D. Indefinitely

Answer: (A)

An offer without a stated time for acceptance remains open only for a reasonable time. Reasonableness is shaped by the deal’s nature, urgency, and surrounding circumstances—things like how quickly such negotiations normally move, the subject matter, and the parties’ expectations. If the deal is something quick and routine, a short window may be reasonable; for more complex or high-value negotiations, a longer window could be appropriate. The important point is there isn’t a universal deadline—acceptance after the reasonable period is ineffective, unless there’s a separate structure like an option or a firm offer that keeps the offer open.

An offer without a stated time for acceptance remains open only for a reasonable time. Reasonableness is shaped by the deal’s nature, urgency, and surrounding circumstances—things like how quickly such negotiations normally move, the subject matter, and the parties’ expectations. If the deal is something quick and routine, a short window may be reasonable; for more complex or high-value negotiations, a longer window could be appropriate. The important point is there isn’t a universal deadline—acceptance after the reasonable period is ineffective, unless there’s a separate structure like an option or a firm offer that keeps the offer open.