1.

List And Very Briefly Discuss The Requirements For A Valid Offer And Acceptance?

Answer»

OFFER:

  • Must be firm. (That is to say, with the INTENTION that its acceptance will call into being a binding contract.)
  • Must be complete. (It must contain all the material terms of the proposed agreement.)
  • Must be clear and certain. (It should be enough for the addressee to answer merely “yes” for a contract to come into being.)
  • Must meet the requirements of the Consumer Protection Act.

ACCEPTANCE:

  • Must be unqualified. (It must be a complete and unequivocal assent to every element of the offer.)
  • Must be by the person to whom the offer was made Bird v Summerville. (E.g. the offer to sell FARM A cannot be ACCEPTED by A and B JOINTLY.)
  • Must be a conscious response to the offer – Bloom v American Swiss Watch Co. (A person cannot accept an offer if he was not aware of it.)
  • Must be in the form prescribed by the offeror, if any.

OFFER:

ACCEPTANCE:


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