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10 Cards in this Set
- Front
- Back
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Define Offer
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Offer is a manifestation of an intention to be bound and may be created by words OR conduct.
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Hunter Deli advertises in NY Post: "Incredible Offer! Breakfeast special for $2.49. Offer?
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No. This is a mere advertisement and advertisements are usually not offers (when there is no quantity term - an unlimited # of people could accept).
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Gap ad says "1 blue dress just like Monica's for only $1 First come, first served!"
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Yes, an offer even though its an advertisement b/c it specifies the quantity and who can accept.
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Sam agrees to sell Peter his car for a reasonable price. Offer?
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No. Vague or ambiguous terms like "reasonable;" "fair;" "appropriate" are not offers.
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Cafe Baccio offers to buy "ALL its requirements" of beans from Coffee Bean Corp. for the next 5 years for $1 per can.
Is this an offer? |
Yes this is an offer to enter into a requirements contract. For requirements contracts, "ALL" or "ONLY" is enough b/c shows commitment to exclusivity. *But look out for increase in requirements b/c any increase in buyer's requirements must be in line w/ buyer's prior demands
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Coffee Bean Corp. (seller) accepts the offer by Cafe Baccio (buyer) to buy "all its requirements of beans for next 5 years for $1 per can from Coffee Bean Corp." For last 3 years Baccio- buyer has ordered 1,000 cans per year.
Can buyer-Baccio require seller- Coffee Corp. to deliver 2,000 cans this year? |
No buyer can't take seller by surprise. Any increase in the buyer's requirements must be in line w/ buyer's prior demands.
TIP: Look out for increase in requirements. |
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Sarah sends a letter to offering to sell Bridget Blackacre. The letter does not state a price. Offer?
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No. Offer to sell Real Property here so CL applies. Under CL, offer must contain a price. (rule: open price terms = no offer under CL b/c too indefinite. cf: open price terms & UCC).
NB: offer for sale of RP requires description of property also. |
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Sarah sends Bridget a letter offering to sell Bridget a painting of Blackacre, but letter doesn't state a price. Offer?
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Yes there is an offer. UCC applies b/c sale of good. Under UCC missing price terms are ok b/c we fill it in w/ a reasonable price term (but vague price terms are never ok under either CL or UCC).
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Peter agrees to give Sarah tennis lessons for a "reasonable price" - offer?
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No, under CL and UCC price terms such as reasonable are too vague to constitute an offer.
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Assuming there is a valid offer, what is the next step of analysis?
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ASK: Is the offer still open? (or put differently - has the offer been terminated before acceptance?)
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