MANAGMNT 260 Lecture Notes - Lecture 21: Posting Rule, Employment Contract, Greeting Card
23 Jan 2017
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There are 3 primary requirements for a contract: Death of the offeror takes the offer off the table. You cannot accept the offer once the offeror has died. You can enforce a contract, but you cannot accept the offer. Similarly, if all of the products are destroyed in the crash, than that"s destruction in the matter of the offer, thus taking the offer off of the table. Rejection takes the offer off of the table. Then propose alternate terms, becomes an alternate offer. Any changes of the offer is considered a rejection. Mirror image rule: acceptance must mirror the offer. If it"s different, then that equals a rejection of the offer and a counteroffer. Intent to make an offer by the offeror. We look to objective intent, we will not be able to subjectively to get into someone"s head to see if they were thinking of making an offer.
