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Offer Acceptance Rate (OA) Compares the number of candidates that are presented a written or verbal job offer vs the percentage of candidates that accept the job offer: Number of candidates presented the offer who accept the offer as a percentage. Example: 10 Candidates are presented a job offer with 8 accepting the job offer = an 80% OA
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Also, upon making an offer, an offeror may include the period in which the offer will be available. If the offeree fails to accept the offer within this specific period, then the offer will be deemed as terminated. An offer may also be revoked by operation of law, if an unreasonable amount of time has passed between offer and acceptance. [46]
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Texaco later made a higher offer, and the company was sold to Texaco. Pennzoil filed a lawsuit alleging tortious interference with the oral contract and, after prevailing in court, was awarded $11.1 billion in damages, later reduced to $9.1 billion plus interest and penalties. [3]
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