Contract: offer and acceptance Flashcards
What fits the following description:
* Legally binding agreement between two or more parties
* Can be in oral or written form
* Vast majority are entered into without formalities
Contract
What are the 5 essential features of a contract:
Offer, acceptance, consideration, ICLR, certainty
What is the type of contract which is:
* Must be created in the form of a deed
* Must have been made in writing
* Need only to be evidenced in writing
Speciality contract
Who is the person who proposes an offer?
Offeror
Who is the person who receives an offer?
Offeree
What is merely an invitation to negotiate?
ITT
What is Partridge v. Crittenden an example of? (advertisements)
ITT
What is Fisher v. Bell an example of? (goods on display)
ITT
Payne v Cave - auctions
ITT
Are adverts always ITT? Case name (X v X)
Carlill v Carbolic Smoke Ball Co
Termination of an offer can be done through:
Acceptance, rejection, counteroffer
Is merely asking for more information sufficient to terminate an offer? (T/F)
False
An offer may be withdrawn at any time before acceptance
True
Revocation must be communicated
True
Do offers need to be absolute, unqualified and communicated to the offeror?
Yes
