Contracts Essay 2 Exam

811 WordsNov 1, 20144 Pages
Issue: Does Pete have an enforceable contract with Debbie? Rule : : Contract formation requires mutual assent (offer and acceptance), consideration, and no viable defenses to contract formation. 1. Is there a valid offer? Offer an offer is the manifestation of a willingness to enter into a bargain, in must be done in such a way that another person should understand that his assent to that bargain is invited and will conclude in forming a contract. Pete has to show that Debbie made a promise to him something in exchange for him to do or not to do something than a valid offer will be proven Was there a valid offer made when Debbie put an ad in newspaper stating her company Party line will rent tables and chairs for the low price of…show more content…
Was there a valid acceptance from Pete. Acceptance An acceptance of an offer is “ a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer. Manifestation: Acceptance of an offer requires a communication of the acceptance to the offeror from the offeree so in order to satisfy the mutual assent requirement. Pete acceptance could be inferred through his statement No problem you can let me know sometime within the next two weeks. Did Debbie revoke the offer Revocation. [7] Whoever makes an offer can revoke it as long as it hasn't yet been accepted. This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer. Once the other party accepts, however, you'll have a binding agreement. Revocation must happen before acceptance. There are some offers that are irrevocable. The offer must be revoked in the same manner it was given. A revocation is generally effective when it is received. When an offer is made to a group of people, such as through a newspaper ad, it may be revoked through an equal means of publicity. However, in the current fact pattern, the first newspaper ad did not constitute the offer. The offer did not occur until Debbie and Pete spoke on the phone and Debbie promised to let Pete know in two weeks. Also, since Debbie specifically knew the identity of Peter, she should have notified Peter
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