QST LA 245 Study Guide - Quiz Guide: Disparate Impact, National Labor Relations Board, Pricewaterhousecoopers
23 Jul 2018
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Contracts cannot be a one-way street; both sides must receive a benefit. Terms and permits another person to accept the terms and: capacity, consent. This is your way to begin your negotiation. You can have a contract as simple as one sentence or as complex/ sophisticated it is a binder of agreements. Are the terms of the offer reasonably definite? price, quantity, date, duration. Advertisements and price quotes are intended to invite/solicit offers. Letters of intent (not accepted as binding offers and do not create legal obligations); it just distinguishes the parties who are seriously interested in the negotiation from those with casual interest. Termination by expiration - when an offer specifies a time limit for acceptance, that period is binding. If if the offer specifies no time limit, the offeree has a reasonable period in which to accept. How can an offer stay open? for consideration.
