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Complete Contracts 'a' Study Notes

In: Other Topics

Submitted By kartoonesse
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Contract Law Notes
Contracts ‘A’

Offer

- Bilateral contracts - Unilateral contracts - Offers to the public at large

What is an offer? - Mere puff - Supply of information - Invitation to treat

Categorizing transactions - Advertisements a) Advertisements in a catalogue or a curricular b) Advertisements in newspapers or magazines c) Advertisements appearing on the internet d) Display of goods - Auctions a) Advertisement of auction b) Auctions with reserves c) Auctions without a reserve - Tendering - Standing offers ➢ Options

Communication of an offer

Termination of an offer - An offer may be terminated by a) Revocation by the offeror b) Rejected by the offeree c) Lapse of time d) Failure of a condition subject to which the offer was made e) Death

Acceptance

Requirements of acceptance

Acceptance must correspond to offer - Offeree must have knowledge of and act in reliance to an offer

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- A counter offer is not acceptance - Acceptance must be unqualified - Mere enquiry does not constitute acceptance

Notification to the offerer of the fact of acceptance - Method of acceptance a) Method of acceptance stipulated by offer b) Acceptance by silence c) Acceptance by conduct - Instantaneous communication: Acceptance must be communicated a) General rule b) Meaning of instantaneous communication - Postal acceptance rule a) Statement of the rule b) Policy behind the rule c) To what communication does the rule extend d) Where is the rule

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