Destruction of subject matter is it an individual

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Destruction of subject matter Is it an individual offer or general offer? Say you make an offer for a specific good, and that specific good is destroyed – then that terminates the contract o Withdrawal (revocation) of offer Offeror can withdraw offer any time up until it is accepted, or before the passage of time would terminate the offer Direct withdrawal Directly contact the person to withdraw Indirect withdrawal Indirectly contact the person (maybe though another, trustworthy person) There is a workaround, called an option Pay some sum to prevent someone from withdrawing their offer o Acceptance You extend to someone certain power – if you want to accept/exercise that power, you can But you must do it in terms of the offer, and within the time specified If you change offer before acceptance, that’s a counter offer (you’re negotiation) Offeror stipulates how offer must be accepted, so long as it’s reasonable The person who is going to accept must follow those stipulations If you make stipulation, the acceptance you make can’t have more than one interpretation (can’t be equivocal)
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If offeror doesn’t stipulate, then the acceptance must be made according to some reasonable Can be verbal, in writing, an action – any way of communication For example, the fact that you live in a place even though you didn’t sign a contract for that place could mean that you accept the housing contract Communication of acceptance must be completed, just like an offer must be completed Courts will be liberal in making sense of acceptance, and in what business people will do Recall the difference in standards between bilateral and unilateral contracts o Bilateral requires meeting of minds o Unilateral is accepted by just doing an action (finding the lost cat, for example) As long as you are aware of the offer, and you bring back cat, you accept the offer o Quiz o Study notes o Group study o Whole class o 2 or 3 questions o Be wary of details – read the case o Email for questions o Ends with products liability o Torts question
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