BLAW 3201 Chapter Notes - Chapter 10: Signify, Registered Mail, Estoppel
Document Summary
The manner in which parties usually show mutual assent is by offer and acceptance. Offer: one party makes a proposal by words or conduct to the other party. Acceptance: agreeing by words or conduct to the proposal. An implied contract may be formed by conduct no definite offer & acceptance or definite acceptance of an offer. A contract exists if both parties have acted in a manner that manifests a recognition by each of them of the existence of a contract. The law applies an objective standard what a reasonable person under the circumstances would reasonably believe or do. The law is only concerned with the assent, agreement, or intention of a party as it reasonably appears from his words or actions. A definite proposal or undertaking made by one person to another that manifests a willingness to enter into a bargain. Offeree: person to whom the offer is made.
