MGMT 263 Lecture 11: 11
Document Summary
Statements falling short of offers: invitations to bargains. Joe: no way i could let it go for under 150k. Letters of intent: intermediate step in contracting process, sets forth key terms, documents progress towards a contract, dangerous because it may or may not be an enforceable contract, lawyers should add weasel words . Proof to higher ups, as well as shown to other businesses, etc. Advertisements: generally not considered offers, after all, there could be farm more acceptances than products available, misleading ads can violate consumer protection statues. Ex. bait and switch - when some offer is made, and when customer hopes to buy, switches things up. De niteness at common law: terms of the offer must be reasonably de nite, baer v. chase. Chase"s promise to take care of baer to remunerate baer in a manner commensurate to the true value of his services, was too vague of an offer.
