Offer and Acceptance

Powerful Essays
Topics: Contract
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
Frustration of purpose · Impossibility
Impracticability · Illegality
Unclean hands · Unconscionability
Accord and satisfaction | Rights of third parties | Privity of contract
Assignment · Delegation
Novation · Third party beneficiary | Breach of contract | Anticipatory repudiation · Cover
Exclusion clause · Efficient breach
Deviation · Fundamental breach | Remedies | Specific performance
Liquidated damages
Penal damages · Rescission | Quasi-contractual obligations | Promissory estoppel
Quantum meruit | Related areas of law | Conflict of laws · Commercial law | Other common law areas | Tort law · Property law
Wills, trusts and estates
Criminal law · Evidence | v · d · e |
Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. Agreement consists of an offer by an indication of one person (the "offeror") to another (the "offeree") of the offeror 's willingness to enter into a contract on certain terms without further negotiations. A contract is said to come into existence when acceptance of an offer (agreement to the terms in it) has been communicated to the offeror by the offeree and there has been consideration bargained-for induced by promises or a promise and performance.
The offer and acceptance formula, developed in the 19th century, identifies a moment of formation when the parties are of one mind. This classical approach to

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