Bài giảng Business Law (13th edition) - Chapter 11: The Agreement: Acceptance

ContractsIntroduction to ContractsThe Agreement: OfferThe Agreement: AcceptanceConsiderationReality of Consent3McGraw-Hill/Irwin Business Law, 13/e© 2007 The McGraw-Hill Companies, Inc. All rights reserved.ContractsCapacity to ContractIllegalityWritingRights of Third PartiesPerformance & Remedies3McGraw-Hill/Irwin Business Law, 13/e© 2007 The McGraw-Hill Companies, Inc. All rights reserved.The Agreement: AcceptancePAETRHC9“Make your bargain before beginning to plow.” Arab proverbLearning ObjectivesBasics of AcceptanceIntentCommunicationSpecial Problems11 - *Acceptance must be by clear expression by offeree of intent to be bound by terms of offer and communicated to offerorOnly offeree may accept offerIf offer calls for performance, then performance is acceptanceOfferor may specify manner of acceptanceSilence may be acceptanceRequirements for Acceptance11 - *Traditional contract law rule required acceptance to be a mirror image of the offerUCC 2–207 allows contract formation even when there is some variance between terms of offer and terms of the acceptanceMailbox rule makes acceptance effective upon dispatch when the offeree used a manner of communication expressly or impliedly authorized (invited) by the offerorMirror Image & Mailbox Rules11 - *OFFER + ACCEPTANCE AGREEMENTEffect of Acceptance11 - *Test Your KnowledgeTrue=A, False = BSilence may never indicate acceptance Offeror may specify manner of acceptanceOnly material variances between an offer and an alleged acceptance result in an implied rejection of the offerUCC 2–207 does not allow contract formation if there is some variance between terms of offer and terms of the acceptance11 - *Test Your KnowledgeMultiple ChoiceThe effect of offer plus acceptance is: (a) negligible(b) an agreement(c) the mirror image rule(d) none of the above11 - *Thought QuestionsDo you read shrink-wrap and browse-wrap license agreements? Do you agree you should be bound by “click” agreements if purchasing through the internet?11 - *