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14 Cards in this Set

  • Front
  • Back

Ingredients of an offer

1) Clear display of contractual intent


2) On terms that are fixed


3) Terms that are certain


4) Intention to be legally binding

Invitation to treat

Usually lacks clear and precise terms.




With clear and precise terms there are issues with picking and choosing customers and multi-acceptance

Presumptions of ITT

Display of goods


Advertisements


Auctions


Tenders

Offer + acceptance =

Agreement

Not acceptance


Destroys original offer

Counter-offers

Not acceptance


Does not destroy original offer

Request for information


SIlence (exceptions are unilateral contracts and acceptance by post)

Statement of minimum price

= not an offer, cannot be accepted.

Battle of the forms

Last shot prevails

Methods of acceptance

Postal rule - Effective once posted, only applies to acceptances


Prescribed method of acceptance


Instantaneous methods of communication


Performance

Postal Rule - requirements

1) Reasonable to post


2) Posted/addressed properly


3) Applies to Royal mail only


4) It does not produce an absurdity

Instantaneous methods

3 things to consider


1) The offeree realises his acceptance has not got through - no contract


2) He reasonably believes his acceptance has been received when it has not - no contract


3) He reasonably believes that his acceptance has been received and it is the fault of the offeror that it has not

Fault of the offeror

The acceptance will be received when it is reasonable to expect it to be received.

Unilateral contracts

Acceptance through performance


May be revoked by same method it was advertised


Implied obligation not to revoke once performance has begun

Revocation

Any point before acceptance takes place


Must be communicated otherwise will be revoked by lapse of time, death.


Objectively reliable 3rd party may revoke an offer