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Offer and Acceptance - Coggle Diagram
Offer and Acceptance
Offer
Types of offer
An offer can be made orally, in writing or by conduct.
An offer can be made to a specific individual, group of people or the world at large.
To be an offer it must be:
- Clear
- Concise
- Capable of acceptance as it stands
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Communication of offers
Once it has been confirmed that a proposition is an offer not an invitation to treat then communication must be proven.
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Counter offer
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Even if main terms are agreed there can still be a rejection through a counter offer which is not agreed.
Request for information
A mere enquiry about a part of the contract will not amount to a counter offer therefore not a rejection or acceptation.
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Terminating an offer
Revocation of an offer is when you withdraw from a contract before a given time or before it has been accepted.
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Acceptance
Rules of Acceptance
'Mirror image rule' - the acceptance must correspond exactly with the offer. If it does not there is no contract formed.
Also, if the acceptance differs from the offer, this could be taken as a counter-offer, which destroys the original offer.
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