Assignment task:
Peter says to Michaela, "I will sell you this oil painting for $1,000 and deliver it by December 15; I reserve the right to cancel at any time without penalty." Michaela accepts the offer. Which of the following statements is TRUE regarding this scenario? Group of answer choices Since Peter did not specify a method of delivery, he must deliver the painting by a commercial carrier. Since Peter reserved the right to cancel at any time without penalty, he has made an illegal contract. Michaela can't sue if Peter doesn't deliver the painting by December 15, because his promise was illusory. This is a binding agreement because there is an offer, acceptance, and consideration.