question and answer on offer and acceptance

The offer to GP is sent by fax and includes the following statement: “Please send an acceptance by 12pm today. As acceptance, must meet the same terms of the offer to be valid, the following answer that suggest new terms in the offer is defined as a counter offer. Mary posted her application. The first property there was no acceptance from Mrs Turner, which means theirs no contact. Equally, if you say it’s an offer, Angela’s response will either be an acceptance or counter offer. 5. 4. List And Very Briefly Discuss The Requirements For A Valid Offer And Acceptance? An offeree's power of acceptance is terminated at the time specified in the offer, or if no time is specified, at the end of a reasonable amount of time. Concentrate Q&A Contract Law offers unrivalled exam and coursework support for when you're aiming high. Delivery will occur on Wednesday”. c) Offer, acceptance, certainty, consideration, and reasonableness. An offer is a symbol of their willingness to negotiate betwee view the full answer Intention to c.....(short extract) To download the full answer, please Sign in or Register then make a payment or submit coursework. If the offer merely authorizes certain modes of acceptance, but does not condition acceptance on the use of those modes, use of an unauthorized means of acceptance is: _____. Then, the seller can accept it, reject it, or reject it and makes a counter offer. acceptable True or false: If the offeree makes a mistake and sends the acceptance to the wrong address, there is acceptance … 1. (definition) 2. The result is a series that offers you better support and a greater chance to succeed on your law course than any of its rivals. Does an acceptance have to be made by a particular method? What is an offer? The revocation of an offer must be communicated by the offeror to the offeree - Byrne & Co. v Van Tienhoven & Co (1880). You send this email to your future employer after they send you a job offer letter or email that includes the title, pay, intended start date and other terms of your employment. Then the offer becomes binding, it creates legalrelations between the two parties. (That is to say, with the intention that its acceptance will call into being a binding contract.) Taking a look at what governs our sales transactions, this quiz and corresponding worksheet will help you gauge your knowledge of offer and acceptance under the Uniform Commercial Code (UCC). Do you know the rules on communication of acceptance? There must be communication of acceptance from the offeree's side. Do you know the difference between an offer and an invitation to treat? If the patron did not make an offer by ordering a meal, then there is no offer involved at all. How can an offer be brought to an end? contract law offer and acceptance problem questions and answers. 2. Concentrate Q&A Contract Law provides guidance on answering questions on the law of contract. Offer and Acceptance are the process by which a buyer and a seller create a legal contract. The general rule is that an offer may be withdrawn any time prior to acceptance but once it has been accepted it becomes irrevocable - Routledge v Grant (1828). Because one person might say it’s an offer (depending on the discussion of course) and another might say it’s an invitation to treat (again depending on the discussion). So when is the communication complete? Each book includes typical questions, answer plans and suggested answers, author commentary and other features. We have given MCQs in different… Read More »MCQs on Indian Contract Act 1872 with answers Why is the case of Carlill v Carbolic Smoke Ball Co important in relation to offer and acceptance? 7. Problem solving - use acquired knowledge to solve offer and acceptance fact patterns Knowledge application - use your knowledge to answer questions about whether an offer … 8. Acceptance has no effect until it is communicated to the offeror, silence can never establish an acceptance (Felthouse v Bindley, 1863). BL Ch 7 Offer & Acceptance Test. Must be complete. Answer; Advert is offer of unilateral contract if conditions stated are performed. Contract textbook writers are committed to the idea that we can use the language of ‘offer and acceptance’ to describe what goes on when two people enter into a … Offer and acceptance: unilateral contracts. How long does an offer continue in existence? If the parties are talking face-to-face this is n… What is an invitation to treat? Question 2. Now, the question is who is liable to bear the loss. Answer : OFFER: Must be firm. The answer would be different if the patron ordered a … This chapter outlines a number of questions that need to be posed in answering exam questions about the rules of offer and acceptance and certainty of terms. What is the postal rule of acceptance? Questions and Answers on: O F F E R A N D A C C E P T A N C E The purchase contract is the most important document in any real estate sale. Q: What happens if someone else makes an offer to purchase the property before the seller accepts my offer? This process typically begins when a prospective buyer makes an offer. Answer the following questions and then press 'Submit' to get your score. Performance is acceptance in unilateral contract. Must be clear and certain. The damages amounted to $2000. You may do away with the requirement of communicating the acceptance; sometimes this may be obvious from the construction of the contract. Only the person to whom the offer is made can accept it. 9. From "Questions & Answers On: Offer & Acceptance": The purchase contract is the most important document in any real estate sale. Each book includes typical questions, answer plans and suggested answers, author commentary and other features. She telephoned the club to confirm whether or not her application was accepted but … This brochure examines issues arising during contract negotiations in … Then the buyer has the same options. You are not bound by an acceptance made by someone else on behalf of the offeree without his authorization. 4. Aaron places an advertisement in his car window on 1st June stating: ‘Range Rover excellent condition, one owner £25,000 or nearest offer. With reference to the legal rules relating to offer and acceptance of a contract, advise the club whether it can claim the joining fee from Mary, Frank and Ali. Wh… An agent is required to deliver all offers promptly. Answer : A common contract law procedure used to determine whether a two-party agreement occurs is the review of the offer and acceptance. Question 1 What is a unilateral contract? Find 97 questions and answers about working at Credit Acceptance. (definition) 3. Who is an offeror and who is an offeree? This Multiple Choice Questions can be useful for graduation & post graduation students of various courses like MBA, M. Com, BBA, B. Com etc. If a counter-offer is made, this destroys the original offer. I – Issues R – Relevant law A – Application C – Conclusion. The new Concentrate Q&A series is the result of a collaboration involving hundreds of law students and lecturers from universities across the UK. 2. So that is why examinees’ answer papers will differ. a) ... Offer, acceptance, certainty, practicality, and intention to create legal relations. The book starts with an introduction explaining how to use the book. The Indian Contract Act 1872 is a part of Legal aspects of Business (LAB). When the seal of the letter is broken by the offeror. 1. A: Until the seller signs your offer and notifies you or your agent that it has been accepted, the seller can consider and accept an offer from a competing buyer - even if your offer was submitted first and is for a higher purchase price. (It must contain all the material terms of the proposed agreement.) When the letter is posted by the offeree. Issue Issue 1: Richard bought 4 shock absorbers adapted for off road driving for his jeep paying $480 on the suggestion of Emma, the manger of Shocks Are Us. The Concentrate Questions and Answers series offers the best preparation for tackling exam questions. An acceptance email is an email you write to officially agree to the terms of a job offer. Please contact Aaron on 07856953214 (evening) or 0205 4785 2365(during office hours 9-5pm).’ Scott (Aaron’s neighbour) on seeing the advert earlier that day, decides to contact Aaron that evening, and arranges to … First identify the legal issues. Then, the seller either accepts it, rejects it, o r rejects it and makes a counteroffer. In particular, it focuses on “offer” and “acceptance”: the process by which a buyer and seller create a binding legal contract. MCQs on Indian Contract Act 1872 with answers is been discussed here. You can withdraw an offer any time before it's accepted. GP emails an acceptance at 10am. Do you know the key cases on offer and acceptance? The Concentrate Questions and Answers series offers the best preparation for tackling exam questions. A. Problems arise, however, when we turn to the rules governing the formation of unilateral contracts. Offer and acceptance – the general rule is offer plus acceptance equals contract. Before answering the following questions, you should be familiar with these issues: 1. What is a reasonable time is a question of fact, depending on all circumstances existing when the offer and attempted acceptance are made.---EVERY OFFER HAS AN EXPIRATION DATE--- The price offered must be the price agreed. It must reflect What is an acceptance? Answer. The offer will be accepted once the letter is received by the offeror. This process begins when a potential buyer makes an offer. 5. What offer? These should be stated briefly in one sentence. Due to petrol prices increasing dramatically in recent months, Aaron decides to sell his limited edition Range Rover Sport, and is considering buying a smaller vehicle. Questions shown all at once Questions shown all at once. Offer & Acceptance Problem - Sample Answer. The restaurant does not make an offer--they indicate that they are willing to ACCEPT an offer to purchase a meal. 6. Learn about the interview process, employee benefits, company culture and more on Indeed. However, when he went for a test drive the shock absorber failed and the car crashed. Effective communication of the offer and a clear understanding of it is important to avoid misunderstanding between all the parties. Questions and Answers on: OFFER AND ACCEPTANCE A publication of the North Carolina Real Estate Commission. On Monday, Big Business Ltd. (BB) offers to sell 300 wrist watches to Going Places Ltd. (GP) at £50 per watch. Now we have seen previously that an offer cannot be revoked after the offeror has communicated it to the offeree. There is no need to enlarge on the issues, as this will be done in the application section.. Secondly, take each issue in turn and set out the relevant law relating to that issue. 3. Practice questions on offer and acceptance 1. Offer - make clear by words or conduct that they intend to be bound even if other terms yet to be agreed. 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