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Notes- Chapter 11

Notes- Chapter 11 - 1 Offeror must have serious intention...

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Chapter 11-Agreement Introduction -Agreements are evidenced by an offer and an acceptance. -Not all agreements are contracts. (John and Kevin agree to play golf, but their agreement isn’t enforceable) Requirements of the Offer Offer- A promise or commitment to do or refrain from doing something specific in the future.
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Unformatted text preview: 1. Offeror must have serious intention of being bound by offer a. Expressions of Opinion b. Statements of Future Intent c. Preliminary Negotiations d. Agreements to Agree e. Advertisements f. Auctions 2. Terms must be reasonable 3. Offer must be communicated to the offeree....
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