Law 2101 Lecture 14: Law2_Lecture_14
Document Summary
Acceptence: before an offer can be binding on either party, the offer must be accepted by the offeree. Requirements of an acceptance: clear and unconditional, communicated to offeror in compliance with terms stated in offer, made with knowledge of offer, made in response to offer. Termination of offer: counter-offer by offeree, rejection by offeree, lapse of offer, revocation by offeror. Dickinson v. dodds: knowledge that would be sufficient to indicate to the revocation to the reasonable person invalidates the power of acceptance, promise to hold offer open for certain time is unenforceable. Can silence constitute acceptance: no, the consumer protection act protects from liability for unrequested goods and services. If there is no consideration, there can be no contract. Three rules governing consideration: consideration does not need to be adequate, consideration must move from the promise and be separate and distinct, past consideration" is not valid.
