Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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Contract Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer‚ what
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Introduction Offer and Acceptance Introduction: For a contract to be legally binding there needs to be 4 ingredients: 1. Offer 2. Acceptance 3. Intention to create legal relations 4. Consideration Building on this‚ in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been
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FORMATION OF A CONTRACT OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A
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answering machine recorded Bill’s message stating that he wished to withdraw his acceptance. On Monday Alice opened Bill’s letter‚ which arrived that morning‚ and then played back the message on the machine. Advise Alice.’ Introduction Begin by exploring what topic the question is talking about so in this case the question is talking about how Bill has revoked his acceptance. Define the term revoke his acceptance. Main Body Argument for the point that there is a contract that has been bound:
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Offer and acceptance | Contract law | Part of the common law series | Contract formation | Offer and acceptance · Mailbox rule Mirror image rule · Invitation to treat Firm offer · Consideration | Defenses against formation | Lack of capacity Duress · Undue influence Illusory promise · Statute of frauds Non est factum | Contract interpretation | Parol evidence rule Contract of adhesion Integration clause Contra proferentem | Excuses for non-performance | Mistake · Misrepresentation
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Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted‚ it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast majority
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enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective view
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Assignment No 1 TITLE: Requirements Definition Document for Postal System Group Members: Rupali Lokhande I-8 Purva Maloo I-14 Jyoti Mayne I-18 Post Office Transaction System ------------------------------------------------- Table of Contents 1. CONTEXT 2. PROBLEM 3. SOLUTION 4. benefits 1. Context Meghdoot Millenium software is used by almost all the post offices all over the country. Prior to the use of this software
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The Liberalization of the EU Postal Market: What are the possible welfare effects? 1. Introduction In regulated industries‚ governments established Universal Service Providers (USPs) in the postal market in order to provide every inhabitant of a country with essential services. Many European Union (EU) member states decided that by the 1st of January 2009 the EU postal market should be liberalised‚ causing competition to increase. When competition rises within a specific market‚ usually‚ welfare
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