Offer and Acceptance

Question 1

Offer

Answer 1

Creates a reasonable expectation that offeror is willing to enter into a contract

Question 2

What factors would dictate acceptance?

Answer 2

Promise undertaking or commitment?

Certainty and definiteness in essential terms?

Communication of these things to offeree?

Question 3

Promise, undertaking, commitment

Answer 3

There must be an intent to enter a contract

Question 4

Is “I quote” or “I am asking $30 for” an offer? How about “I would consider selling for”?

Answer 4

These are invitations to deal and NOT offers

Question 5

Could statements in jest or anger or bragging be offers?

Answer 5

If reasonably understood, no legal effect.

Question 6

Is an advertisement with price quotations an offer?

Answer 6

No, these are invitations for offers.

Question 7

Are unclear offer terms considered offers if the parties have a preexisting relationship?

Answer 7

Yes

Question 8

Definite and certain terms

Answer 8

Identification of Offeree

Definiteness of subject matter

Question 9

What is definiteness of subject matter for real estate?

Answer 9

Identify the land and price terms

Question 10

Definiteness of subject matter - sales of goods

Answer 10

Need quantity term

Question 11

Definiteness of subject matter - output contracts

Answer 11

Promise to buy all that I require

It is assumed parties will act in good faith and the amount will not be

UNREASONABLY DISPROPORTIONATE

Question 12

Definiteness of subject matter - employment contract

Answer 12

If no duration is stated it’s AT WILL employment

Nature of the work must be included