BU231 Lecture Notes - Lecture 10: The Employer, Precontract, Estoppel
Document Summary
In contract law, the parties intended to enter an agreement and intended it to be legally enforceable. In order to assist it in that determination, the court has developed certain guidelines or presumptions. For example, a display of an item on a store shelf, even if it has a price tag is an invitation to treat. There are good policy reasons for these presumptions: suppose you want to place an advertisement on your local newspaper offering to sell your house for a certain price. A revocation must be properly communicated to the offeror/offeree. In this case, performance is accepting: a problem may occur respecting offer and acceptance in the commercial setting as a result of standard forms/pre-printed contracts, for example, assume bc corporation has been supplying xyz with. Orders for new supplies are placed by telephone: abc has developed a standard form contract which it sent with every order shipped to xyz corporation.
