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Offer - Coggle Diagram
Offer
Termination
Lapse
Specified term
Reasonable time
Death / Incapacity
Destruction / Illegality
Revocation
:forbidden: Option
Consideration
:forbidden: Firm offer
Merchant
Time (capped at 3m)
Signed
:forbidden: Promissory estoppel
Detrimental reliance
Reasonable / foreseeable by offeror
Failure to enforce causes injustice
:forbidden: Partial performance
Unilateral : formation requires full performance
Bilateral : formation requires partial performance
Counter offer / Rejection
:forbidden: Option
Content
Common law
Parties
Subject Matter
Price
Quantity
UCC
Quantity
UCC fills the remaining gaps
Reasonable time
Seller's place of delivery
Payment upon receipt of goods
Reaonable price
Objective intent to be bound by acceptance