Offer and Acceptance

Negotiations are a part of daily life whether we are aware of them occurring or not. In everything that we do there are preferred end results and the end results are likely to affect more than one person. The goal in this however, is to ensure that all parties are equally benefited from the actions and reactions that occur to create that end result. While some dealings are done in a more subtle manner without a great deal of negotiation per say there are other situations that would warrant more vocalized mutually acceptable compromises. The purpose of this paper will be to effectively explain a situation of which required negotiation on the part of both parties that almost all of us have endured and that would be the process of buying a

Most businesses use more than one way to communicate internally and externally. This is vital to running a business effectively. Without communication, information would not get passed on, information that is potentially needed to carry out tasks within the business.

In our recent negotiation, my partner Dave and I assumed the roles of Alan Hacker, a computer software developer, and Alan Hacker’s lawyer. Being the lawyer in the negotiation my objective was to avoid litigation with my client’s partner Stanley Star and to aid in the continuation of my client’s co-owned company HackerStar. In addition, I would assist Hacker in coming to an agreement that would be satisfying for him both personally and financially. I felt that Dave and I presented a reasonable argument on Hacker’s behalf and, since I was able to apply some of our class readings during the process, I was overall pleased with the outcome.

The requirements for the Merchant Confirmation Memo is that both parties must be merchants, memo must be sent in a reasonable amount of time, the signature by the party who sent the memo must be present, and the other party has 10 days to object. Both parties in this case are merchants, which can be defined in two ways. Merchant can be a person who has extensive knowledge and background in the area, which Sara, the expert, is considered a merchant in this sense. A merchant can also be someone who deals with the good of the kind, which would be Bill. The memo was sent memo immediately after the phone conversation, which would go towards the reasonable time element. The signature of Bill was present by his letterhead identified with his business name, which constitutes a signature under the SOF. Finally, Sara did not respond to Bill’s memo at all, which under the assumption that 10 days passing would be considered an

Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.

A contract is a promise between two or more parties that the law recognizes as binding by providing a remedy in the event of breach. In order for a promise to be enforceable it must be supported by consideration. Consideration can be defined as a bargained for exchange between the promisor and promisee; a promise can not be considered a contract without consideration. Common law states also require mutual assent to exist for a contract to be enforceable, this means that there must be an offer and an acceptance of said offer. For example, if a promise is made between two consenting people and one of those

In preparation for this negotiation, I studied the case diligently. I wrote down, what I felt were the key issues for Joe Tech. I also made a list of pros and cons associated with each issue. I prepared in this manner because it gave me the opportunity to effectively break down the issues of the case as well as focus on important goals without having the extra unneeded information also presented in the case outline. The issues I focused on are as such:

However, the following are the vital steps contained in each contract. Also, without them the contract would not be considered valid. First, an offer entails a statement by one party who is willing to make a contract under certain conditions keeping in mind that it shall be accepted. Second, acceptance gives a picture of the agreement to the terms offered. According to Rogers (2012), acceptance is considered valid when, (1) it is made by an individual to whom the offer was directed, (2) it is unequivocal, and (3) it is communicated to the offeror. Third, consideration encompasses the terms of the contracts between the parties. Therefore,

P2 EXPLAIN THE LAW IN RELATION TO THE FORMATION OF A CONTRACT IN A GIVEN SITUATION

A contract comes into existence with the initiation of an offer made by one party, which in turn should be ‘accepted’ by the other party. The element of offer and acceptance thus initiate the legal process of the formation of a valid and binding contract. The significance of acceptance with respect to the contract laws stems from the fact that the proposed offer must be accepted by the promisee and forthwith be communicated to the promisor. Together offer and acceptance create a promise which can

Lord Denning holds the opinion that “…it is a mistake to think that all contracts can be analyzed into the form of offer and acceptance…” He gives his support of the statement above and echoes these sentiments in the case of Butler v. Ex-Cell-O Corporation (England) Ltd (1979). He believes that the “…better way is to look at all the documents passing between the parties and glean from them or from the conduct of the

Under Common Law, for a contract to exist, three elements must be present: an offer, an acceptance and a consideration. The notions of offer and acceptance under Common Law are not fundamentally different from those in French contract law, although their effects may differ. The offer indicates the willingness of a party to enter into a bargain, and the acceptance reflects the agreement of the other party to the offer.

for it to qualify as a proper contract in the eyes of the law: offer

A Contract requires several elements in order to be considered enforceable. However for the purpose of this essay we would explore one of these elements in order to effectively understand the controversial cases of Williams v Roffey Brothers and Nicholls (contractors) Ltd (1990) and Stilk v Myrick (1804). Before going any further one should briefly understand the doctrine of Consideration. Despite the vast amount of content written, the doctrine of consideration is still to this day unclear due to the inconsistency of the courts and its application of necessary rules. Consideration refers to that which the law deems as valuable in that the promisor receives from the promise that which was promised. In other words, it is the exchange of something of value between the parties in a contract. One should be mindful that in English law, every promise may not be legally enforceable; it requires the court to distinguish between are enforceable and non-enforceable obligations. This brings us to the controversial cases of Stilk v Myrick and Williams v the Roffery brothers. Many argue that that the case of Williams was wrongly decided leading to impairments in the rule initially established in Stilk v Myrick. This essay seek to analyse and critique the cases of Stilk v Myrick and Williams v Roffey Brothers and also highlight whether or not the new rule of Practical benefit lead to serious impairments in later cases.

The postal rule was developed to facilitate contracting at a distance. Initially, bargaining at a distance often posed a great challenge to bargaining parties especially through the postal services. This was mainly because via the mail parties could not know simultaneously whether they had reached an agreement. As a result a general rule indicating the time of an acceptance had to be established. Consequently the postal acceptance rule was developed .The postal rule function to create an exception to the general rule, which stipulates that an acceptance will only be effective upon receipt