a unilateral contract. 2. Must acceptance of an offer of a unilateral contract be communicated to the offeror? 3. What are the arguments for contending that an offer of a unilateral contract may not be revoked once acceptance has commenced? Self-Test Questions - Acceptance 1. Define acceptance. 2. Explain what is meant by a counter-offer. 3. What is the general rule concerning communication of acceptance? 4. What is the postal rule? 5.
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contract including offer‚ acceptance and rejection. The first issue is whether the email sent by Amanda to Tracy on 11 April is an offer or invitation to treat. An offer is a definite promise or proposal to be bound on specific terms and it has to be definite
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counter-offer ‚ conditional acceptance and acceptance . It also deals with the elements of valid contract. General rule for a binding contract is an offer and an acceptance of the proposal. There must be effective communication to the proposer. It is very important to differeciate a proposal from an invitation to treat. Invitation to treat is a stage of negotiation and inviting others to make an offer. A common example is the display of goods for sale in a shop. Besides that‚ acceptance and counter offer
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To form a contract‚ it usually requires offer and acceptance. Acceptance is an expression by words or conduct of assent to the terms of the offer. It shall be clear‚ unequivocal and unconditional as prescribed by the offeror. It is a moment when contract exist (that there is consensus ad idem). The general rule of acceptance is been stated in the case of Entores Ltd v Miles Far East Corporation‚ Lord Denning claims that an acceptance does not usually valid until it is reached to the knowledge of
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Montefiore applied for shares in the hotel company. He had not received any news before he received a letter of acceptance after 5 months. By the time he refused to accept the shares‚ the hotel claimed him for a bleach of contract. The court held that the offer to buy the shares had lapsed because of unreasonable delay in accepting. Revocation An offer can be revoked at any time before its acceptance. Which means even the offer is promised to be opened‚ the offeror is able to revoke the offer before the
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and the acceptance can be delivered via cyber communication such as telex instead of writing or face-to face methods. The formation of an contract generates as the acceptance is received. Therefore an electronic contract may be formed via emails‚ as long as all the necessary elements of a standard contract are established (Hill 2001). Postal
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contract‚ requires four elements; an offer‚ the acceptance of that offer‚ the intention to be legally bound‚ as well as consideration. Referring to the case of Affin Credit (Malaysia) Sdn Bhd v Yap Yuen Fui‚ the lack of an offer and acceptance will cause an agreement to be declared void from the beginning. In this particular case‚ although there was a valid offer and the intention of both parties to be legally bound‚ neither an absolute acceptance nor consideration had passed between the Bank and
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contractual agreement is said to exist when a valid offer is followed by a valid acceptance. • Sometimes people will negotiate to try to gain something different from what is first offered. This may make it difficult to know exactly when a contract is formed and when legal obligations begin. Components necessary for contract formation • 1. An OFFER- a promise to be bound on specific terms • • 2. An ACCEPTANCE- an unqualified agreement to those terms • • 3. CONSIDERATION- which means that
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is an agreement between two or more parties‚ is enforceable at law. Once the contract is formed‚ those parties need to abide their promises. The essential elements of a contract include offer‚ acceptance‚ consideration and intention to create legal relations. In this case‚ it mainly covers offer‚ acceptance‚ and consideration‚ and others are presumed to be presented. First of all‚ we first identify whether the advertisement posted by Alan is an offer or is just an invitation to treat. In the advertisement
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I served as a National Representative for The Council for Economic Opportunities in Greater Cleveland (CEOGC)‚ which is a private‚ non-profit organization dedicated to serving the low-income people of Greater Cleveland and Cuyahoga County. I was sent to various states to gather resources to share to help in advancement of local schools. During my involvement with CEOGC‚ I met a lady who was widowed with a son - her husband died of cancer. Her son was involved with Hillcrest Nation Native Sons‚ which
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