State governments and local governments can create laws that regulate businesses

Management is defined as

A) the art of getting things accomplished through others. B) the art which prescribes how things get accomplished in organizations. C) the art of telling people what to do. D) the art of getting people to do what you want. E) the art of controlling employees.

Stelwire LLC, a vintage car dealer, advertises the sale of a 1964 Ford Thunderbolt. Ralph responds to the advertisement with an offer of $80,000 for the car. Stelwire signs a written assurance to keep that offer open to Ralph for a fortnight

Five days before the fortnight is up, Stelwire sells the car to another buyer. At the end of the fortnight period, Ralph tenders $80,000 for the car, but the car has already been sold. Ralph then buys the same model car from another dealer for $90,000 and sues Stelwire for breach of contract. The court rules that Stelwire is liable to Ralph for breach of contract and orders Stelwire to pay Ralph the difference of $10,000 he paid extra to the second dealer for the car. What was the nature of the contract between Ralph and Stelwire? A) counteroffer B) open terms contract C) option contract D) lease contract