Part II - Formation of the contract Flashcards
Art. 14(1)
An offer.
Defined as an offer when addressed to one or more specific persons, is sufficiently definite and indicates the intention of the offeror to be bound in the case of acceptance.
Definite if: indicates goods, expressly or implicitly fixes or makes provisions for determining the quantity and price.
Art. 14(2)
Invitation to make offer.
If the proposal does not constitute an offer as mentioned in subsection 1, it must be regarded as an invitation to make offer.
Unless, the contrary is clearly indicated by the person making the proposal.
Art. 15(1)
The offer becomes effective when it reaches the offeree
Art. 15(2)
Withdrawal of an offer.
An offer can be withdrawn, if the withdrawal reaches the offeree before or at the same time as the offer, this also includes irrevocable offer.
Art. 16(1)
Revocation of an offer.
An offer may be revoked, if the revocation reaches the offeree before he has dispatched the acceptance.
Art. 16(2)(a)
An offer cannot be revoked if:
There is a fixed time of acceptance or it is irrevocable
Art. 16(2)(b)
An offer cannot be revoked if:
If the offer rely on the offer as being irrevocable AND the offeree has acted in reliance on the offer
Art. 17
An offer is terminated when a rejection reaches the offeror, even an irrevocable offer
Art. 18(1)
A statement indicating assent to an offer is an acceptance
Silence or inactivity can never mount to an acceptance
Art. 18(2)
An acceptance become effective at the moment the indication of assent reaches the offeror.
The acceptance has to reach the offeror within the fixed time, or if there is no fixed time, within a reasonable time.
Oral offers must be accepted immediately.
Art. 18(3)
If practices between the parties, include actions which indicate assent, then the acceptance becomes effective the moment the act is performed
Art. 19(1)
Rejection of the offer and a counter-offer.
If there are additions, limitations or other modifications.
Art. 19(2)
An acceptance which does not materially alter the terms constitutes an acceptance.
Unless, the offeror without undue delay, objects orally and dispatches a note saying the same.
If there is no objection, the terms of the contract, are the terms of the offer with the modifications from the acceptance.
Art. 19(3)
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Art. 20(1)
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