offer Flashcards
what is a contract
an agreement between two parties which is binding in law
what is a breach of contract
when a party fails to carry out any of their obligations under the agreement
what are the four essential requirements to form a valid contract
offer, acceptance, consideration, intention to create legal relations
what is the definition of ‘offer’
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 are the legal principles of an ‘offer’:
must be ‘certain’ - no ambiguity
must be with ‘intention’ to contract
what case relates to the legal principles of an offer
storer v MCC
what are the two types of contracts
bilateral contracts and unilateral contracts
what is a bilateral contract
requires both the offeror and offeree to do something. both parties have obligations
what is a unilateral contract
promise in exchange for an act (not obligatory)
what case illustrates unilateral contracts
Carlill v Carbolic smoke ball
what is an ‘invitation to treat’
an expression of willingness to receive offers (NOT AN OFFER)
what are the 4 types of ‘invitations to treat’:
advertisements, goods in a shop window/shelf, lots at an auction, request for info
what case illustrates ‘advertisements’
partridge v crittenden
what case illustrates goods in a shop window/shelf
fisher v bell
what case illustrates ‘lots at an auction’
Barry v Davies (without a reserved price)
what case illustrates ‘request for information’
Harvey v Facey
‘termination’ definition
the act of ending something or the end of something
what acronym do we use to remember the 5 ways in which an offer can be terminated
C - counter offer
A - acceptance
R - revocation
D - death of offeror/oferee
S - sustained amount of time
outline ‘counter offer’ as a means of termination
changing the original terms of an offer. this becomes a new offer (Hyde v Wrench)
outline ‘acceptance’ as a means of termination
offer is over because agreement has been made
outline ‘revocation’ as a means of termination
an offer can be revoked (cancelled) any time prior to acceptance (Dickenson v Dodds)
outline ‘sustained amount of time’ as a means of termination
offers will terminate after a ‘lapse of time’ that is deemed ‘reasonable’ (Ramsgate Victoria hotel v Montefiore
what is the rule in Errington v Errington woods regarding revocation
Offeror can’t revoke offer once the person has started the act, without giving them reasonable time to complete the act
