Requirements
of the Offer
Ø
Offeror’s
serious intention.
Ø Definiteness of
terms.
Ø Communication to
Offeree.
Offeror’s
Serious Intention
Contract is judged by what a
reasonable person in the Offeree’s position would conclude about the offer.
Case 10.1: Lucy v. Zehmer (1954).
Offers made in anger, jest, or
undue excitement are usually not offers.
Expressions of opinion are not
offers.
Statements of Intention or
preliminary negotiations are are not offers.
Advertisements, Catalogues, Price
Lists, and Circular are treated as Invitations to negotiate and not as offers.
Offer-Definiteness
of Terms
Terms (Expressed or Implied).
Ø Identification of
the parties.
Ø Object or subject
matter of the contract.
Ø Consideration to
be paid.
Ø Time of payment,
Delivery, or Performance.
Case 10.2: Satellite
Entertainment Center v. Keaton (1997).
Offer-Communication
Offeree’s knowledge of the offer:
Ø Directly by the
Offeror.
Ø Use of Agents.
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