COMM231 Chapter Notes - Chapter 6: Upper Clements, Reasonable Time, E-Commerce
13 Apr 2016
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Offer versus invitation to treat: most adverisements and displays of goods in stores are invitaions to treat. , invitaion to treat is not an ofer and is only treated in law as an expression of willingness to do business. Customer agrees to a standard set of terms that favours the other side. The law expects people to take care of themselves. Criical to read and understand the contract before signing it. Offeror the person who makes an ofer. Offeree the person to whom an ofer is made. Lapse expiraion of an ofer ater a speciied or reasonable period. Rejecion the refusal to accept an ofer. Counterofer turning down an ofer and proposing a new one in its place. The oferor can revoke an ofer at any ime before acceptance upon noifying the oferee of withdrawal. Option agreements an agreement where, in exchange for payment, an oferor is obligated to keep an ofer open for a speciied ime.
