Requirement Of Definiteness

Question 0

RS 33: Certainty

Answer 0

Even though a manifestation of intention is intended to be understood as an offer, it cannot be accepted so as to form a contract unless the terms of the contract are REASONABLY CERTAIN.

Question 1

How to determine if the terms are reasonably certain?

Answer 1

If they provide a basis for determining the existence of a breach and giving a remedy for breach.

Question 2

Can a contract be formed when all terms are not known?

Answer 2

Often it means that there was no intent to enter into a bargain or an acceptance of an offer, but if it provides a PRACTICAL AND OBJECTIVE METHOD of finding the missing terms, it may still be binding.

Question 3

Does the price always need to be determined and set?

Answer 3

Usually yes, but if it is fixed in terms of an agreed market standard but not exact, it can be accepted.