bb.outline.kagreementclassnotes

bb.outline.kagreementclassnotes - Contracts: The Agreement...

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Contracts: The Agreement Corresponding Reading Assignment: Text: Pages 358-368; middle of 374-top of 382; 390-95 1. Agreement 2. Intention of the Parties 3. Requirements of the Offer a. Serious, objective intention by offeror b. Definiteness- terms of offer must be reasonably certain so parties and court ascertain them c. Offer must be communicated to offeree d. Elements i. Serious, objective intention by offeror ii. Definiteness - terms of offer must be reasonably certain so parties and court ascertain them iii. Communication - offer must be communicated e. Under the elements i. Intent- objective standard used ii. Offer Offeror- person making offer 1. Offeree- person to whom offer Is made iii. Acceptance f. Intent to Contract i. Preliminary Negotiations-not offers 1. Richards v. Flowers et al. (page 360) 2. Pepsi case- commercial had kid winning a plane at the endand guy wanted the plane as a surprise a. Judge ruled that it was clearly a joke that the plane was part of the prizes so the guy lost ii. Advertisements, Catalogues, and Circulars (and Price Lists or Quotes) 1. General rule: not considered an offer a. Treated as offers to negotiate b. Example: offer is made when item is scanned and acceptance is made when hand over the money for the item c. Exception: if ad contains specific details (like date, amount of item, time, and price) about terms of acceptance 2. Promises of Prizes or awards made in ads and circulars- treated as unilateral offers a. Simpson’s Clip- not entitled to elephant because it was an obvious joke
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g. Reasonable Definiteness
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bb.outline.kagreementclassnotes - Contracts: The Agreement...

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