MGT393H5S - Lecture8 - MGT393H5S Lecture 8 (2009, Mar, 09)...

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MGT393H5S Lecture 8 (2009, Mar, 09) Contract is a promise that the court enforces (Agreement) You don’t enter into a contract by an accident 1. Intention (Presumption in the commercial setting), ex. Pepsi – fighter jet 2. Offer - Conditional offer - If somebody makes you an offer (you can change it around) - Revoke (Replication), possible to make someone revoke it by getting the other person to agree. Seal & Option “I will give you until next time to decide” you can still revoke it because the other person did not give me anything to keep it till next Monday. “Seal is a magic” - Offer lapse after a reasonable time - If somebody rejects your offer, the offer is gone. 3. Acceptance must be positive and has to be communicated Carbolic Smoke Ball Company - Made a ball that will smoke when lit for a medical ailments - Cough, flu, influenza, and etc - The company has deposited the $ to the bank and we will pay you 100 pound if you get influenza - Newspaper are generally an invitation to treat
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MGT393H5S - Lecture8 - MGT393H5S Lecture 8 (2009, Mar, 09)...

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