QST LA 245 Lecture Notes - Lecture 4: Parachuting, Delta Tau Delta, Bailment
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Is this an offer: melissa says to katherine: we need a cashier at my part-time job. The pay and benefits are great and we need someone right away. No it is not definite: jim says to michael: hey come work with me this summer for 2 months at my dad"s store. It"s a full-time job and pays an hour. Yes there are definite terms like duration, hourly rate, company name. An offer is revoked when the offeror takes it back before the offeree accepts. If an offeree clearly indicates that he doesn"t want to take the offer then he has terminated the offer. A party makes a counter offer when it responds to an offer with a new and different proposal. When an offer specifies a time limit for acceptance, that period is binding. If the offer specifies no time limit, the offeree has a reasonable period in which to accept.