BMGT 380 Lecture Notes - Lecture 26: Rohm

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 380
• Professor: Gideon Mark

Document Summary

April 13th lecture: offerer-person who makes the offer, offeree-person to whom the offer is made, not all proposals are offers. Some are treated as jokes and jokes are not an offer: e. g. Pay you 50,000 if you jump off the eiffel tower: you accept but it wouldn"t create a contract, three requirements for a offer, 1. Objective indication of present intent to enter into a contract on the part of the offerer. We don"t care what the offerer intended: many years ago courts used subjective approaches, but we moved away from it because it"s too difficult to figure out what offerers secretly intended and there"s too much uncertainty, meram case. Mcdonald was specific about what he would do: put the card in the hat, at the end of the meeting, the winner will get a million dollars, 2. Mcdonald was a multimillionaire and was running the company and could afford to pay the winner: don"t know who won.