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contract law > lesson 1: consensus > Flashcards

lesson 1: consensus Flashcards

1
Q

consensus – 2 parts

A

offer and acceptance

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2
Q

definition of offer from slides

A

expression by one party of his assent to certain definitive terms, which looks forward to acceptance by the other on the same terms

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3
Q

offer requirements (3)

A

must be complete
must be an outward expression
offer comes before acceptance

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4
Q

offer must come before….

A

acceptance

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5
Q

consensus is ….

A

objective

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6
Q

quotation of price is an …

A

invitation to treat/ to make an offer

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7
Q

advertisement is usually not an

A

offer – invitation to treat instead

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8
Q

display of goods and price tags on them are mere invitations to treat and turn into offers …

A

at the cashier

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9
Q

a statement of the lowest price is …

A

NOT an offer

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10
Q

tenders

A

inviting parties to a bid

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11
Q

tenders = …

A

bids = offers

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12
Q

tenders involve two contracts

A

contract a
contract b

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13
Q

contract A is …

A

the tender process and unilateral

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14
Q

contract A is with

A

bidder and owner

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15
Q

contract a is …

A

always formed by submission of bid, many A’s

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16
Q

contract a is a …

A

submission and consideration of bids

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17
Q

once a bid is submitted it will not…

A

be revoked and bids are treated fairly

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18
Q

contract b is the

A

main contract and bilateral

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19
Q

contract b is between …

A

the owner and one selected bidder

20
Q

2 problems with tenders

A
  1. offers can be revoked before acceptance
  2. owners are not obligated to accept offers
21
Q

what is privilege clause?

A

Lowest of any bid should not be accepted

22
Q

unilateral contract def

A

acceptance = performing the act requested in contract
performance constitutes acceptance

23
Q

bilateral contract def

A

promise for a promise

24
Q

4 issues in unilateral contracts

A

mixed motives for performing the act
offeree unaware of offer
acceptance performed out of sight
offeror retracks after partial performance

25
Q

bids take a long time to…

A

prepare and consider
and are competitive

26
Q

when there is acceptance, motives..

A

do not matter

27
Q

offeree must know of the offer to.. ____, if not….

A

accept it
no contract if unaware of reward

28
Q

performance of act is …

A

acceptance

29
Q

courts favour bilateral contracts in..

A

commercial cases

30
Q

unilateral offer cannot be revoked if …

A

performance is ongoing

31
Q

acceptance must be communicated to be …

A

effective

32
Q

offer must be accepted within a …

A

reasonable time

33
Q

offer can be revoked ____ anytime before acceptance, and revocation can be communicated by a ____

A

at anytime, and by a third party

34
Q

slient acceptance is …

A

not enough

35
Q

offeror controls …

A

acceptance terms

36
Q

circumstances where silence can constitute acceptance

A

existing agreement that silence will constitute a future offer
(prior agreements)

long standing relationship where your silence always constitutes silence and agrees it works
(long-standing relationships)

37
Q

counteroffers =

A

rejection of original offer and terminates original offer

38
Q

rejection + new offer =

A

no contract

39
Q

cross - offers are not …

A

an acceptance of each other

40
Q

additional negotiations =

A

no consensus

41
Q

ongoing negotiations mean …

A

no final agreement

42
Q

post box acceptance rule

A

acceptance is effective WHEN MAILED not when received

43
Q

post box acceptance rule only applies to

A

acceptances its in the name

44
Q

digital acceptances follow …

A

general rule (effective when received)

45
Q

rule does not apply to …

A

faxes or e-mails

contract law (3 decks)

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