Requirements Flashcards

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1
Q

5 requirements

A

offer
acceptance
consideration
provity
intention

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2
Q

offer+acceptance=agreement

A

this is the basis of a contract, and then the other three requirements are considered

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3
Q

offer

A

starting point for a contract
law sets out what an offer is, when an offer exists, and when an offer comes to its end

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4
Q

why must offers must be definitive?

A

if there is uncertainty it’s unlikely that the statement is an invitation not an offer (eg. ‘may be able to’, ‘might be prepared to’

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5
Q

offeror definition

A

person making the offer

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6
Q

offeree definition

A

person who can choose to accept the offer

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