Unilateral contract
"In common law, a contract is a legally binding agreement between two or more parties that sets an exchange of promises of what each party will or will not do".(Elliott,2011,p.13) The contract can be unilateral and bilateral. if the oferee can accept simply by promising to perform, the contract is bilateral. Bilateral contract is a "promise for a promise", and in order to be formed, is not need for consideration to be made at the time when the promises are exchanged .
In a unilateral contract,one party known as the offeror makes a promise in exchange for an act by another party known as the offeree. If the offeree act on the offeror's promise,the offeror is legally obliged to fulfil the contract, but an offeree cannot be forced to act or not act,because no return promise has been made to the offeror. (Elliot,et al,2011,pp.12-13)
In Carlill v Carbolic Smoke Ball Co [1893] the company promised to any £100 to anyone who caught influenza after using their product. However, once any person bought it and started using it, the company was bound by its promise. this is an example of a unilateral contract, when the offeror act on the offeree promise.
Based on the facts, regarding the case which we are dealing with, a unilateral contract has been formed between the auctioneer known locally and trade under the name of "Lewis Marrs&Co" , employed by Felix and the general public.
An invitation to treat, is an advertisement about goods displayed in the window for the open public, in order to invite the eventually buyers. In auctions, the bids themselves are the offers, each bidder making an offer to buy, which then is accepted by the auctioneer bringing down his hammer.
According with what the judge decided in Harris v Nickerson (1873), "an advertisement that an auction is to take place at a certain time is a mere of declaration of intention and is not an offer which those who attend at the specified time thereby accept".(Elliot,et al,2011,p.13) Under the Sale of
In a unilateral contract,one party known as the offeror makes a promise in exchange for an act by another party known as the offeree. If the offeree act on the offeror's promise,the offeror is legally obliged to fulfil the contract, but an offeree cannot be forced to act or not act,because no return promise has been made to the offeror. (Elliot,et al,2011,pp.12-13)
In Carlill v Carbolic Smoke Ball Co [1893] the company promised to any £100 to anyone who caught influenza after using their product. However, once any person bought it and started using it, the company was bound by its promise. this is an example of a unilateral contract, when the offeror act on the offeree promise.
Based on the facts, regarding the case which we are dealing with, a unilateral contract has been formed between the auctioneer known locally and trade under the name of "Lewis Marrs&Co" , employed by Felix and the general public.
An invitation to treat, is an advertisement about goods displayed in the window for the open public, in order to invite the eventually buyers. In auctions, the bids themselves are the offers, each bidder making an offer to buy, which then is accepted by the auctioneer bringing down his hammer.
According with what the judge decided in Harris v Nickerson (1873), "an advertisement that an auction is to take place at a certain time is a mere of declaration of intention and is not an offer which those who attend at the specified time thereby accept".(Elliot,et al,2011,p.13) Under the Sale of