Offer (contract) Flashcards
1
Q
What is the person making an offer called?
A
OFFEROR
2
Q
What is the person to whom the offer is made called?
A
OFFEREE
3
Q
Define an OFFER.
A
A proposal made by the OFFEROR to enter into a contract, which must be fully communicated to the OFFEREE.
4
Q
What is an INVITATION TO TREAT?
A
An indication of a willingness to start negotiations, which is not an offer.
5
Q
List two characteristics of an OFFER.
A
- Can be written or verbal
- Must be fully communicated to the OFFEREE
6
Q
List three examples of an INVITATION TO TREAT.
A
- Advertisement in a newspaper
- Goods on display in a shop
- Goods on display in self-service shops
7
Q
True or False: An INVITATION TO TREAT can lead to negotiations.
A
True
8
Q
Fill in the blank: An OFFER is a _______ point of contract.
A
[starting]
9
Q
What does ITT stand for?
A
INVITATION TO TREAT
10
Q
Is an OFFER part of negotiations?
A
Yes
11
Q
True or False: An OFFER can be made to the whole world at large.
A
True
