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Question
Peter and Ray are riding their horses together. Peter jokingly tells Ray that Ray's horse is too slow. Ray laughs and jokingly responds "Yes, he is too slow! I would sell him for $5!" Peter hands Ray $5. This isa. a valid acceptance because Peter gave Ray the money in a reasonable time.
b. a valid acceptance because there is consideration on both sides.
c. not a valid acceptance because Ray's offer was made in jest.
d. not a valid acceptance because Ray's horse is worth more than $5.
Answer
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