Restatements

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30. Form of acceptance invited

Back 1

1. an offer may invite or require acceptance to be made by an affirmative answer in words, or by performing or refraining from performing a specified act, or may empower the offeree to make a selection of terms in his acceptance.

2. unless otherwise indicated by the language or the circumstances, an offer invites acceptance in any manner and by any medium reasonable in the circumstances.

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58. Necessity of acceptance complying with terms of offer

Back 2

An acceptance must comply with the requirements of the offer as to the promise to be made or the performance to be rendered.

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52. Who may accept an offer

Back 3

An offer can be accepted only by a person to whom it invites to furnish the consideration.

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50. Acceptance

Back 4

1. acceptance of an offer is a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer.

2. acceptance by performance requires that at least part of what the offer requires be performed or tendered and includes acceptance by a performance which operates as a return promise.

3. acceptance by a promise requires that the offeree complete every act essential to the making of the promise.

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32. Invitation of promise or performance

Back 5

In case of doubt an offer is interpreted as inviting the offeree to accept either by promising to perform what the offer requests or by rendering the performance, as the offeree chooses.

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Leftkowitz

Back 6

A person is justified in believing his assent will conclude an offer where the offer is clear, definite, and explicit, and leaves nothing open for negotiation.

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26. Preliminary negotiations

Back 7

A manifestation of willingness to enter into a bargain is not an offer if the person to whom it is addressed knows or has reason to know that the person making it does not intend to conclude a bargain until he has made a further manifestation of assent.

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24. Offer defined

Back 8

An offer is a manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent is invited and will conclude it.

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21. Intention to be legally bound

Back 9

Neither real nor apparent intention that a promise be legally binding is essential to the formation of a contract, but manifestation of intention that a promise shall not effect legal relations may prevent the formation of a contract.

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18. Manifestation of mutual assent

Back 10

Manifestation of mutual assent to an exchange requires that each party either make a promise or begin to render a performance.

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17. Requirement of a bargain

Back 11

The formation of a contract requires a bargain in which there is a manifestation of mutual assent to the exchange and consideration.

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4. How a promise may be made

Back 12

A promise may be stated in words, either oral or written, or may be inferred wholly or partly from conduct.

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3. Agreement defined; Bargain defined

Back 13

An agreement is a manifestation of mutual assent on the party of two or more persons. A bargain is an agreement to exchange promises or to exchange a promise for a performance or to exchange performances.

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2. Promise

Back 14

A promise is a manifestation of intention to act or refrain from acting in a specified way, so made as to justify a promise in understanding that a commitment has been made.

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1. Contract

Back 15

A contract is a promise or set of promises for the breach of which the law provides a remedy, or the performance of which the law in some way recognizes as a duty.

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25. Option Contract

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An option contract is a promise which meets the requirements for the formation of a contract and limits the promisor's power to revoke an offer.

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Methods of termination of power of acceptance

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An offeree's POA may be terminated by:

a. rejection or counter offer, or

b. lapse of time, or

c. revocation by the offeror, or

d. death or incapacitation

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35. The offeree's POA

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1. An offer gives to the offeree a continuing power to complete the manifestation of mutual assent by acceptance of the offer.

2. A contract cannot be created by acceptance of an offer after the power of acceptance has been terminated in one of the ways in 36.

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60. Acceptance of offer which states place, time or manner of acceptance

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If an offer prescribes the place, time or manner of acceptance its terms in this respect must be complied with in order to create a contract. If an offer merely suggests a permitted place, time or manner of acceptance, another method of acceptance is not precluded.

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110. Classes of contracts covered

Back 20

1. The following classes of contracts are subject to a statute, commonly called the SOF, forbidding enforcement unless there is a written memorandum or an applicable exception:

a. executor-administrator provision

b. contract to answer for duty of another

c. marriage consideration

d. contract for sale of an interest in land

e. contract that is not to be performed within a year.

f. contract for the sale of goods $500 or more

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132. Several writings

Back 21

The memorandum may consists of several writings if one of the writings is signed and the writing in the circumstances clearly indicate that they relate to the same transaction.

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Revised acceptance of offer

Back 22

1. Acceptance of the offer is assent to the terms made by the offeree in a manner invited or required.

2. Performance requires that at least part of the offer be performed or tendered.

3. Promise requires that the offeree complete every act essential to the making of the promise.

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33.

Back 23

certainty