Acceptance - TheAgreement: Acceptance An acceptance of an...

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TheAgreement: Acceptance An acceptance of an offer creates a binding contract. Acceptance, at common law, embraced the ' mirror image ' rule of law which meant that the acceptance was required to be the mirror image of the offer. An unconditional, unequivocal assent to the terms of the offer was what was required. A purported acceptance - one that was conditioned upon demands not included in the offer - was a counter offer and it had the effect of canceling out the original offer. Modernly the courts are more flexible and what may not have been viewed as an acceptance at common law, often qualifies as one modernly. A bilateral offer requires a return promise as the acceptance. A unilateral offer that bargains for an act or action, requires the performance of the act as the acceptance. A unilateral offer that bargains for forbearance, requires the forbearance as the acceptance. Responses That Do Not Qualify as an Acceptance An offeree might respond to an offer in any number of ways. The particular response must be accurately identified by you because each different response carries with it a different legal consequence! Obviously, an acceptance timely given, results in a valid contract. The other types of reactions by the offeree are an inquiry, ignoring the offer, expressly rejecting the offer, making a counteroffer and impliedly rejecting the offer. By ignoring an offer an offeree runs the risk that the offer will terminate via time lapse. By making inquiries of the offeror (asking questions) the offer will remain valid unless of course the questioning persists for an unreasonable time period which would then result in the offer lapsing due to time lapse. An express rejection will have the effect of canceling out the offer. The same is true with regard to an implied rejection. Counter offers are generally implied rejections! Objective Theory of Contract Intent Remember that contract intent is measured not by what a person was actually thinking or subjectively intended but rather by an objective standard (based on what a reasonable person would believe the person intended). What a person said, and how a person said it, and the other surrounding circumstances - including what is considered customary by society's norms - will tell us what is reasonable to believe. So . . . whether an acceptance was intended depends on the objective standard being
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Acceptance - TheAgreement: Acceptance An acceptance of an...

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