Agreement Flashcards
What must happen for an agreement to be made?
there must be a valid offer followed by a valid, unconditional acceptance of the offer
What is an offer?
An offer is an expression of one party’s willingness to contract on certain terms, made with the intention that it will be legally binding upon acceptance.
What is the party making the offer known as?
The offeror
What is the party whom the offer is being made known to called?
The offeree
What does the offeror usually state that they will be bound by?
The terms of the offer following a valid acceptance and an intent to create legal intention.
What are the early stages of forming an agreement considered to be?
Invitations for parties to make offers.
What is the most common example of an invitation to treat?
Having items on display in a shops window.
Are goods on display an offer?
No.
Would picking up an item be seen as an acceptance?
No.
What is an item on display?
An invitation to treat
What is picking up an item and taking it to the till considered to be?
An offer to buy. - pharmaceutical v boots
What are advertisements in media considered to be?
An invitation to treat - Partridge v Crittenden
What is a counter-offer?
It is when an offeree decides they would like to change the terms of an offer.
What does a counter-offer end?
The original offer
What does a counter-offer become?
An offer in itself, which can be accepted or rejected by the person making the original offer - Hyde v Wrench
