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7 Cards in this Set
- Front
- Back
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Need a "meeting of the minds" as to the _____ _____ of the contract.
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material terms
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Offers (offeror and Offeree)
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-Price quotes and advertisements are not generally offers (rather they are invitations to bid or to make an offer).
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Letters of intent
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NOT offers
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Material terms must be _________, not vague.
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clear
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termination of offers
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1. revocation
2. rejection or counter-offer 3. expiration 4. operation of law |
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mailbox rule
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-EX: selling car on craigslist and trying to accept a better offer.
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Mirror Image Rule
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- "common law rule" Requires that acceptance be on precisely the same terms as the offer.
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