MGMT 3230 Lecture Notes - Lecture 8: Suncor Energy, Landscaping, Estoppel
17 Jul 2018
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Upon acceptance of an offer, a binding contract is formed. Just as with the specificity requirements of an offer, acceptance a must be exacting. No changes can be made (unconditional acceptance). Rule: accepting a mirror image of the offer. If you attach conditions, you have modified the offerors offer, something that the offeror had not agreed to. Of course, you may do this, but you have created a counter offer, not acceptance. Unconditional acceptance of an offer must be communicated to the offeror. Offeree: person receiving: there are discrepancies in the law when you start an offer in person and end in text. Communication can take a variety of forms so long as the reasonable. Exception: if offer stipulates particular method of communication. Note, conduct can amount to acceptance: fulfilling the term can be acceptance, ^^^^^^^^^^^ this is all general law. Offeror makes the offer to the offeree, offeree accepts. Who owns the car: there is no exchange of value.
