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Offer & Acceptance - Coggle Diagram
Offer & Acceptance
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An offer is a proposition put by one person(s) to another with the intention that if accepted it will be legally binding
An offer must be sufficiently definite in order for it to be capable of being accepted by the offeree
An offer must be carefully distinguished from an invitation to treat (or invitations to other persons to make an offer)
An offer can be made to an individual (a bilateral contract) or the world at large (an unilateral contract)
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Advertisements
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allows the seller advertising his goods the ability to withdraw them or to change them without giving notice to potential buyers
Goods in shop windows
display to invite offers to buy, but the shopkeeper has no obligation to accept the offer and the sell the goods at the price stipulated
Auctions
bids are merely offering, it is only when the hammer comes down that it has been accepted
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Request for Information
This does not destroy the offer but attempts to clarify matters. It can be difficult to determine whether a statement from the offeree to the offeror regarding the offeror's offer is a mere request for information or whether the offeree's statement is a counter offer.
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Lapse of time
f a time has been stipulated, then the offer lapses when the time has expired. If no time has been stipulated, then acceptance must be within a reasonable time. The court would determine what is reasonable
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