Management and Organizational Studies 2275A/B Study Guide - Fax, Meeting Of The Minds
9 Jul 2014
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Document Summary
In contract law, parties attempt to create their own legal rights and obligations. In tort law, rights and obligations are imposed based on a judgement about conduct. Contract an attempt to make an agreement that the courts will recognize as legally enforceable presumption is that individuals are free to agree to do what they please. A contract is not a piece of paper. Offer a proposal to a contract that is open to be accepted or rejected it is more appropriate to say an offer is subject to acceptance. Offer must be communicated to the offeree (person offer made to) before acceptance can occur. Only the person who is made the offer can accept or reject it. Communicated in the manner requested or implied by the offeror. Offeror needs to be informed otherwise it can be withdrawn. Acceptance occurs when letter of acceptance is posted. Acceptance by mail where it is normal business practice.
