{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Contract I -Flowchart F'06 - CONTRACT No O OFFER Yes move...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CONTRACT? OFFER Yes – move to Acceptance 1. Elements of an offer (Normile) a) Offeror b) Offeree c) Subject matter d) Time e) Quantity f) Payment terms g) Price h) Words of promise 2. Restatement definition of an offer 3. Southworth – use the context to det. offer 4. Objective Theory (Embry) – reasonable person test 5. Offer in Jest (Pepsi Co.) = not an offer 6. Advertisements not offers (Lefkowitz) unless: a) Limits # of people who may accept (ex. first come, first serve) 7. Rewards are offers for unilateral K (Pepsi Co./Carbolic Smoke Ball) 8. Subjective Theory (§20 Restatement)/Doctrine of Misunderstanding 9. K implied in fact (Steffes) 10. Ways to revoke an Offer -- Revocation Rules (Normile) a) Express (in same form as offer) b) Rejection c) Counteroffer d) Revocation e) Lapse of time of offer’s existence 1) Oral - lapse at end of conversation or after time specified by offeror 2) Written - lapse after a “reasonable time” or a time specified by the offeror f) Death of Offeror 11. Irrevocable Offer No O Move To P.E.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.
  • Fall '06
  • Daicoff
  • moral obligation, reasonable person test, firm offer rule, Specific Acceptance Specified, Pepsi Co./Carbolic Smoke

{[ snackBarMessage ]}