BSLW1021 Lecture Notes - Lecture 18: Posting Rule
Document Summary
Important points regarding contract law and advertising: offer v. invitation to negotiate most times regarded as invitation to negotiate, unilateral contract, right to withdraw offer. Advertisers want the right to withdraw the offer. Offer does not equal contract need a valid acceptance for it to be a contract. Better to read the contract and follow the terms of the contract, rather than accept in a different way than required by the contract: ex. Mailbox rule *tests on exam: offer is valid when it is received, an acceptance is valid the moment it is properly deposited in the us mail, mail acceptance trumps mail revocation of the offer. The acceptance occurs before the revocation, therefore the revocation will not be effected: an offer is valid when received, a revocation is valid when received. Mccarthy v. tobin: aug 9: mccarthy executed offer to purchase, aug 11: tobin signed offer to purchase.
