BSL_10- Mutual Assent

BSL_10- Mutual Assent - BSL_10 16:22 Offer Elements o

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BSL_10 16:22 Offer Elements o Offeror objectively intends to enter a binding contract o Definite or reasonably certain as to material terms of the proposed contract Identity of parties, subject matter, consideration, quantity o Communication- offeror has all the power in communication Specific Offer Rules o Ads are not offers Exception: If the ad is highly specific regarding the nature and number of  goods or services offered  and what the offeree has to do to accept Rewards are also exceptions o Auctions Duration/Termination of Offers o Expiration Terms of the offer If there is no stipulation regarding duration the offer is valid for a  “reasonable” time o Revocation An offeror can revoke an offer at anytime prior to acceptance Revocation affective when offeree learns of it Exceptions Option- offeree pays offeror to keep offer open
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BSL_10- Mutual Assent - BSL_10 16:22 Offer Elements o

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