term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Requirement of Acceptance
1) Unconditional
2) Communicated
3) Manner
4) Time
Acronym: "CUMT"
Unconditional Acceptance
- any material change voids previous offer
- offeree becomes offeror
notes about
Communication of Acceptance
- directed towards offeror
- Postal Acceptance Rule
- once accepted, can't be withdrawn
Postal Acceptance Rule
The communication of acceptance takes place the moment the letter is posted.
Manner of Acceptance
- offeror dictates how to accept (letter, email, etc.)
- no stipulation = same as offer
Time to Accept
- acceptance must be made within time period required by offeror
- no stipulation = reasonable time
Option to Purchase
Exclusive right to purchase an item in exchange for money
define
Genuine Intention (voiding elements)
1) Fraud
2) Misrepresentation
3) Duress
4) Undue Influence
5) Mistake
MUDFM
Fraud
- false representation
- material fact
- knowledge (mens rea)
3 components
Misrepresentation
- NO knowledge (mens rea)
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!