LAW 601 Lecture Notes - Lecture 34: Purchase Order, House Rule, United States Mint
Document Summary
*purchase order is usually the offer . usually the first time the essential terms are on the table. Hypo: seller to buyer: i will sell you whatever you order for the next year at $. If buyer responds: i will pay for whatever i order in the coming year. *seller not bargaining for this worthless promise there was no consideration, acceptance, to be more precise. Bare price quote is not an offer: unreasonable to think the seller has any quantity the buyer wants. If, however, the seller puts bounds on the quantity the seller can buy, then it"s reasonable, because the buyer knows how many seller is expecting. There might be things the court can look to construct a reasonable quantity limitation. *subjective and objective standard exp: if parties have had dealings in the past for customary quantity, it might indicate to seller and buyer that is binding .
