Chapter9slides

Chapter9slides - Agreement and Consideration Offer +...

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Unformatted text preview: Agreement and Consideration Offer + Acceptance  Offer issues 3 sub requirements Offer reqs. Met? Offer still open? Has it terminated? expiration  Acceptance Two sub requirements Acceptance reqs. Met? Written document with both signatures Objective intent Based don all circumstances, what would an ordinary, reasonable person think Does offeror intend to be bound? Not if Jest Anger Exploratory questions Terms reasonably definite or certain Cannot be too vague OK if some details missing Ethical outcomes Examples for a good price Ill do some painting for you fair price too vague kelly Blue Book fine Communicated to offeree Not effective until offeree receives Reward not due if finder did not know of reward Only the specific offeree(s) can accept AdvertisementsNot offers Invitation to deal Contract law: no need to honor ad price but statutes now require it  Very specific ads are offers  Car ads with stock numbers are offer, but for only one car Offeree can:...
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Chapter9slides - Agreement and Consideration Offer +...

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