Offer and Acceptance

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

Generally in contract writing, there are six basic contract elements (The Law Handbook, 2010). The first is that both parties must have the capacity to enter a contract. There must be an offer and then acceptance. There needs to be

The offer and acceptance model is flawed- only an agreement is necessary. In order to fully comprehend this statement, we must first establish what constitutes and offer and what constitutes acceptance. “An offer is a statement by one party of willingness to enter into a contract on stated terms, provided that these terms are, in turn, accepted by the party to whom the offer is addressed”. Acceptance is “…an unqualified expression of ascent to the terms proposed by the offeror”. The “Offer and acceptance model” is based on the court’s adopt the “mirror image” rule of contractual formation. Applying the definitions stated above, we can take this to mean that there must be a clear and unequivocal offer which must be matched by an equally

For there to be a binding agreement between Dr Hu and Riversong Mediquip, two factors must be present, these factors are and offer and acceptance. An offer can be defined as a willingness to enter into a bargain and in doing so does justify another person an understanding that his/her assent is invited and will conclude the bargain. Heydon JA suggested that an offer must ‘take form of a proposal for consideration which gives an offeree an opportunity to choose between acceptance and rejection’ .The offer in this scenario was made by Riversong Mediquip to sell Dr Hu medical equipment as was depicted in a previous correspondence between the parties. The

An agreement is the essence of every contract. The parties to a contract are the offeror (who makes an offer) and the offeree (to whom the offer is made). If, through the process of offer and acceptance, an agreement is reached, and the other elements are present (consideration, capacity, legality), a valid contract is formed.

Any legal contract must contain certain elements. First, it must contain an offer. The offer is what someone is going to do, such as lease you a tractor, sell you a guitar, paint your house, or simply pay you (The Basics of Contract Law, 2017). Second, the offer must be accepted. Acceptance means that you agree to what is offered, without any changes. (If you make changes to the offer, it is typically considered a “counter-offer.” which must itself be accepted) Third, it must represent the intent of both parties to enter into a legally binding agreement (The Basics of Contract Law, 2017). In other words, both parties have to be aware that the agreement could be enforced by law.

The are five elements to an enforceable contract. One of the elements is an offer and the party’s acceptance. (Matt and Fleming, 2012) The contract is extended to a party and after consideration, the party accepts. The offer has to be distinguishable and clear. The offer is considered a definite promise that is to be honored by both parties. (Matt and Fleming, 2012) There is an opportunity for an individual to withdraw from a contract before it is accepted.

An offer is an invitation or proposition to engage in business for mutual benefit. While no specific legal language is required to make the contract valid, the language that is presented must be specifically chosen to convey the intent of the proposal (Rogers, 2012). Second, there must be an acceptance. As Craig Smith says it, acceptance is a "manifestation of willingness to be bound by the terms of an offer" (Smith, 2015). Acceptance exists any time someone agrees to engage in business under the terms proposed. The third aspect is consideration. Consideration comes in many forms, but includes the exchange of mutual values (Rogers, 2012). The buyer provides consideration to contracts generally by exchanging money, what most sellers want from the transaction and the cornerstone of all business activity. The seller provides consideration in the form of goods or services that the buyer is willing to buy (Rogers, 2012). The next essential element of contracts is legality. To be recognized and enforceable, the elements and terms of the contract must be legal and cannot be based upon the performance of illegal activity (TFD, 2015). Finally, a valid agreement requires capacity. To enter a contract, one must be at least 18 years old, of sound mind, and competent to perform his or her duties, including an understanding of one's future obligations (TFD, 2015). While a preliminary version of mutual consideration has been discussed, no

“A contract is a legally enforceable agreement” that” comes into existence from the voluntary assent of two or more individuals to enter into a legally binding agreement” (Rogers, 2012). Under common law, they have an express contract, “Since a contract comes into existence as soon as the offeror’s offer is accepted by the offerer” (Rogers, 2012). So basically a “a contract is formed when an offer by one party is accepted by the other party” and that “offer need not be made to a

The fact Bob has made his initial offer through post; making it reasonable for Sam to rely on postage to deliver his acceptance.

An offer is an expression of willingness to form a contract and is made with the intention to be bound by specified terms once it has been accepted. Acceptance of an offer is necessary for a contract to be formed and the postal rule is a way of providing acceptance. In order for a contract to be established, it is important that an offer is made and the acceptance of the offer is communicated to the offeror. However, this is not necessarily the case under the postal rule, once acceptance is communicated by post; the contract is formed as soon as the letter is sent. This is set out in the case of Adams v Linsell defendants offer was delayed which subsequently caused the plaintiffs communication of acceptance. The defendants sold the goods to a third party. The court decided a contract was formed before the transaction with the third party had took place, on the basis that the acceptance was

In this situation, Cory is offering his computer as part of a unilateral contract. The “first come, first served” basis is a condition of the offer and Cory has prescribed a certain mode of acceptance through email or fax. It has been debated whether email and fax acceptance can be considered as instantaneous communication, or whether the postal rule of acceptance can apply to these methods. As a result of this, different approaches can be taken to decide whether it was Dan or Eve who had completed their acceptance first and who should be provided with the computer.

The Postal Rule: Acceptances mailed by post do not follow the general rule that an acceptance is only valid when it is communicated to the offeror. An acceptance is valid at the moment when it is put into the post box by the offeree in order to send it to the offeror (Adams v Lindsell).

As Guenter Heinz Treitel defines offer as ” an expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed, the offeree”1. It is a statement of terms and conditions of that will be passed to the offeree. It might be passed through letters, newspaper and advertisement.

Acceptance is “manifestation of assent by the offeree to the terms of the offer.” Basically, the offeree agrees to the terms of the contract and is ready to be bound to said contract and the contractual obligations that apply. Remember earlier we spoke of unilateral and bilateral contracts where by a unilateral contract can be accepted only by the offeree’s performance of a required act, and bi-lateral contracts are accepted based on an offeree’s promise to perform. Notice in both instances the onus is on the offeree, this is important because only the offeree has legal power to make acceptance of a contract. Third persons have no power to accept, and if a contract is offered to two or more people, each has the power to accept.