Recall that offeror can withdraw offer any time up

Info icon This preview shows pages 5–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Recall that offeror can withdraw offer any time up until it is accepted Offeror has to communicate withdrawal Here, we have a third party withdrawing the offer Did Dickenson believe the third party? o After the third party withdrew the offer, Dickenson makes an effort to try and find offeror and accept the offer, so yes, he did believe o Go to court Court asks, have you been told that the offer was withdrawn? Two considerations o Were you told that offer was withdrawn (was the information communicated to you)? o Did you believe the person who told you? In this case, to answer the second question, look at how Dickenson acted – he behaved as though he accepted the contract o Any form of withdrawal, as long as it is rational, communicated, and believable, can terminate an offer But it must be made before the offer is accepted Case (Petterson) o Petterson owned house, Patberg was given mortgage on house o Seller sets up unilateral offer Says I want you to pay me – you must put money in my hand If you give me money, I will accept it Petterson begins to do just that, but then Patberg says he withdraws before the transaction is completed o Offeror sets terms for acceptance Says that money must be put in his hand But he withdrew offer before this happened o Petterson could have purchased an option, if he really wanted the offer to stay open Case o This case is in odds with what we talked about
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
o Guy promised nephew that if he was sober until he was 21, then he would give him $5,000 o A detriment in and of itself (without the benefit) is enough to uphold a contract The detriment is withholding from doing legal things, like smoking, drinking, etc. o Is there an exchange of consideration? The uncle receives no consideration (only a warm fuzzy feeling) o The benefit detriment analysis framework does not apply here But the detriment is big enough here Case (Harris vs. Watson) o Ship goes to Lisbon o Public policy decision o Court is straining to make sure this doesn’t happen Imagine what would happen if we upheld this? It would be terrible for society o Court says this isn’t good for us as a nation Looks at the case on a public policy approach Case (related to previous case) o One of the first preexisting duty cases o Contract that seamen signed said that they will do whatever is necessary to complete voyage Once you agree to that—agree to offering your consideration—you no longer have anything to offer (no longer have consideration)
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern