chapter 13 - included therein Although periodic renewals of...

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Yi Chen BUS175 12-12-2010 Chapter 13 1. Unilateral contract is a contract in which one party makes an obligation to perform without receiving in return any express promise of performance from the other party. One party gives a promise in exchange for an act; that party is not obligated to perform on that promise unless the other party decides to act. In this case, Marsha agreed to pay the $500 price set forth in the store’s offer. The contract actually is created by the performance of the act requested of the promises. So there was a bilateral contract, no unilateral contract. 4. In order to form a contract, an offer must be accepted as tendered. If the purported acceptance of an offer introduces additional or variant terms, it constitutes a counter- offer, which operates as a rejection of the original offer. In this case, Nelson made the changes to the Baker’s offer, Baker didn’t receive, there wasn’t a contract. 10. Had the parties intended the lease to be renewable, such a provision would have been
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Unformatted text preview: included therein. Although periodic renewals of a lease may give rise to expectations by the tenant that renewal is likely in the future, this is insufficient to create an obligation to renew. If Shell was under no such obligation, plaintiff did not assume one by representing to defendant that the purchase of the station property would not result in a change in business practice or business relationships. 14. The McLaughlins' negotiations with Heikkila led to the proposed purchase agreements, which were offers. But Heikkila's notations on the proposed purchase agreements changed the terms of those offers and therefore were not acceptances but counteroffers, which in turn required written acceptance by the McLaughlins. Because the McLaughlins produced no written acceptance, the delivery of such an acceptance is not at issue here. So there was no contract for the sale of land between the parties...
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