PALG 306 Lecture Notes - Lecture 4: Mirror Image, Uniform Commercial Code
Document Summary
Deal with contracts so much, all the time, one of most highly litigated, most rules and most exceptions. Terms - what it is, color, size, etc. Terms of the offer can not be varied - has to be exactly as offer was made. Counteroffer - rejecting original offer and roles reverse and they become offeror. Mirror image rule - offer has to reflect exactly what is in the mirror no distortions. Uniform commercial code - ucc - 2 merchants that work together a lot and don"t have to be formal every time and if there"s a variation in the acceptance the courts will allow. Merchants can demand an iron clad offer - take it or leave it. Offer is made - offeree is silent - you can"t accept offer through silence. Has to be manifest intent an objective action or words that signal the acceptance. One exception - unless the offeree is the one who solicits the offer.
