Multiple choice

An investor applied for the IPO of a company. The company confirmed the allotment to him, but the allotment letter never reached the investor as it was lost during the course of post. It is

  1. a valid acceptance

  2. an invalid acceptance

  3. an invalid offer

  4. none of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Though the letter has not reached the offerer, yet the acceptance is valid.