An offer to buy or sell goods made by a merchant, written and signed by the offeror, which has given assurance that it will be held open. Must be held open for a period of time not exceeding 3 months. A rejection occurs when the offeree notifies the offeror that he or she does not intent to accept. Like the offer and the revocation, it takes effect only when it has been communicated
One from of rejection is a counter offer: a proposal made by the offeree to the offeror that differs in any material respect from the terms of the original offer A response in which the offeree deletes a term from, or adds a term to, the terms of the offer also constitutes a counteroffer What is a reasonable period of time for a lapse of time to end an offer? How is this decided? Decided by language used in the offer, means of communication used by the offeror (sending the offer by overnight express (express mail or courier service) normally implies an urgency that the use of regular mail does not), prevailing market conditions (If the price of a commodity is fluctuating rapidly, for example, a reasonable time might elapse within hours or even minutes from the time the offer is received), and/or method by which the parties have done business in the past. Events that will terminate an offer automatically without notice to the offeree: Death or adjudication of insanity of either party Destruction of the subject matter of the contract Intervening illegality The termination of an offer by any of these events is said to occur by operation of law The various events that automatically terminate unaccepted offers generally do not terminate existing contracts A bilateral offer is accepted by the offerees making the return promise that the offeror has requested, while a unilateral offer is accepted only by the actual performance of the requested act Acceptance – an expression on the part of the offeree by which he or she indicates a definite intent to be bound by the terms of the offer An acceptance: 1. Must demonstrate a definite, present intent to accept the offer 2. Must be unconditional and not add any terms that additional to or different those of the offer 3. Must be legally communicated to the offeror or the offerors agent When is silence a permissible response to an offer? When is it not permissible? There is no duty on the part of the offeree to reply to an offer, and silence is not acceptance unless it was previously indicated as an acceptance or dealings in the past indicate it as an acceptance. Silence is not permissible if an offeree intends to reject and owes a duty to reject. When is a counteroffer seen as an acceptance? Under the UCC a sale of goods contract which has been amended is an acceptance; this is because it's seen as a contract that is not yet fully negotiated.
What is the UCC's view on the battle of the forms?
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- Spring '08