Offer Ship me 10 widgets at 10pc Acceptance Seller ships widgets without

Offer ship me 10 widgets at 10pc acceptance seller

This preview shows page 28 - 36 out of 63 pages.

Offer: Ship me 10 widgets at $10/pc Acceptance: Seller ships widgets without confirming order Offer, trade usage, or the practice of the parties must make it clear that offeree is not required to notify offeror
Image of page 28

Subscribe to view the full document.

Formation of Contract (cont’d) Acceptance (cont’d) Withdrawal Acceptance valid upon receipt: Offeree may withdraw its acceptance any time before or simultaneous with its receipt » As opposed to mailbox rule Rejection Rejection of offer is effective upon receipt A rejection and acceptance is sent by offeree on the same day which one is given effect?
Image of page 29
Formation of Contract (cont’d) Acceptance with Modifications Battle of the Forms Seller sends offer to sell (Offer Letter) Buyer sends acceptance (Purchase Order) CISG if inconsistencies are material, the would-be acceptance is a counteroffer Material: price, payment, quality of goods, place and time of delivery, extent of liability of parties, settlement of disputes, etc. If not material, becomes part of contract unless Offeror promptly rejects.
Image of page 30

Subscribe to view the full document.

General Standards of Performance Both parties are entitled to get from their contract what they expect If fail to perform accordingly = breach If one party fundamentally breaches the other may Avoid the contract Make demand for specific performance Fundamental Breach Failure to substantially deliver what the other party reasonably anticipated receiving
Image of page 31
General Standards of Performance Fundamental Breach (cont’d) Avoidance: Notification by the party that he is canceling the contract Notify other party Return the goods Only affects obligation to perform, does not cancel Any provision in the contract re: settlement of disputes (arbitration, choice of law, choice of forum, etc) Any other provisions re: rights and duties of the parties (trade secrets, confidentiality, intellectual property, etc.)
Image of page 32

Subscribe to view the full document.

General Standards of Performance Fundamental Breach (cont’d) Specific Performance CISG allows specific performance Courts not obligated, unless allowed to under domestic laws Common law: fairly narrow application, disobedience has serious consequences:“contempt of court” with fine or imprisonment » Specific or ascertained goods (UK), goods are unique, or other proper circumstances (US) Civil law: broader application and not so serious consequences: no fines or imprisonment allows » Party is “entitled” to require performance, not limited by the nature of the goods involved
Image of page 33
Seller’s obligation Deliver the goods Hand over any documents relating to them Ensure the goods conform with the contract
Image of page 34

Subscribe to view the full document.

Seller’s obligation (cont’d) Place for delivery As agreed to in contract, or The first carrier’s place of business (if carriage of goods) Place where both parties knew the goods were located, or manufactured or produced If contract requires seller to arrange shipping but does not specify carrier, transportation must be: Appropriate in the circumstances, and made according to usual terms for such transportation
Image of page 35
Image of page 36
  • Fall '18
  • hihi

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

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes