BLAW 2013 Lecture Notes - Lecture 13: Fax, Mirror Image, Option Contract
21 Mar 2017
School
Department
Course
Professor
Document Summary
Promise/ commitment to do/ refrain from doing action in future. Offeror (person making offer) & offeree (person received offer) 3 elements of offer: 1) offeror must have serious intention. What reasonable person in offeree conclude offeror"s words (objectively) Offer made in obvious anger, jest, undue excitement= not serious intention: lucy v. zehmer case (1954) virginia. Written amount & signature on cocktail napkin (to buy property) = contract! (even though drunken, 40 min talking & 2 drafts of contract= serious intention) Not offer : expression of opinions (doctors, statement of future intent (only thinking about , preliminary negotiations (request/ invitation to negotiate, preliminary agreement (if agree on major terms but leave minor terms for future, advertisement (price list=invitation of negotiation. Sometimes can be offer: 2) terms of offer= reasonably certain/ de nite. Cannot agree bargain w/o knowing the existence of contract. Find lost cat & reward nding car w/o knowing what reward is= invalid. Termination of offer: termination by action.
