Mutual Assent- Offer

Question 1

Requirements of Offer

Answer 1

IRRC
[I]ntent to contract by the offeror

[R]easonably definite and certain terms

effective upon [R]ECEIPT by the offeree

[c]ommunicated to an identifiable offeree

Question 2

How to identify present intent to contract by the offeror

Answer 2

Language of COMMITMENT

No obvious EXCITEMENT

No EMOTIONAL strain

TOTALITY of the circumstances

Question 3

How to prove offer contains reasonably definite and certain terms?

Answer 3

Can determine ___ from the offer:
- rights and duties of parties
- existence of breach
- appropriate remedy
- contains material terms
- totality of circumstances

Question 4

Material Terms

Answer 4

Q-TIPS

Quantity
Term of the offer (Duration)
Identifiable Parties
Price
Subject Matter

Question 5

General Rule for Ads

Answer 5

Ads are not offers

Ads are invitations to make offers

Question 6

When is an Ad an offer

Answer 6

Invites performance of a specific act

If no further communication is required

Leave nothing for negotiation
(all of these have to be met)

Question 7

Ways to accept an offer

Answer 7

a promise,

a performance, or

a promise or a performance

Question 8

Who is an identifiable offeree

Answer 8

A person or a group of people specifically targeted and named in an offer

Question 9

What if an offer doesn’t include an expiration date

Answer 9

go with a “reasonable time”