Business law Question..?

Owen announces that he plans to sell his business, Payroll Service Company, at a price below market value, Quality Inc. Sends a check for the stated amount. Owen may refuse to accept the check

a. if Owen secretly intended not to sell PSC
b. if Owen had a "few" drinks before making his announcement
c. beacuse Owen expressed an intent to do something in the future
d. under no circumstances

First of all there must be an offer for someone to accept and therefore create a contract. An offer must specify those who have the right to accept it. Here Owen just announced he plans to sell, not to whom. Basically Owen has not made an offer at all and therefore has not given anyone the right to accept.

This being said I guess C is the best answer but it is not a very good answer. The real best answer would be that Owen has not made an effective offer due to not specifying whom is entitled to accept.

A. is completely wrong because courts only look to objective intentions not subjective.

B. probably won't constitute the defense of capacity

You can reject any bid you receive on any property. As long as you don't have a signed document with them you should be ok. Get in over your head?