LAWS2111 Study Guide - Final Guide: Meeting Of The Minds, Fide, Hughes Aircraft Company
Document Summary
Both promises are executory (to be performed after contract is formed) Definition: expression of willingness to enter into a legally binding contract on certain terms. (cid:884) parties exchange promises in exchange for each other"s in the future. Acceptance/contract is formed when 1 party performs/executed. In a unilateral contract, the objective test is taken (what would a reasonable person think/do?) Anybody who performs the conditions accepts the offer. Acceptance of offer occurs when performance is communicated to offeror. Can be found in formality of language (cid:498)conventional approach(cid:499) is looking at contractual documents, finding the offer/acceptance. Passenger accepts by accepting terms/conditions and boarding the plane. Macrobertson miller airline services v commissioner of state taxation. A communication by one person inviting another to make an offer/enter into negotiations relating to a potential agreement. Is not an offer capable of being accepted. Placing goods in a basket is not acceptance because the customer is not bound to purchase it.
