Contract Law - offer and acceptance

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  • OFFER & ACCEPTANCE
    • Offer
      • valid offer = a definite promise to be bound.
      • a promise to be bound by specific terms
    • invitation to treat?
      • goods displayed in a shop window
        • Fisher v Bell [1960]
      • adverts,catalogues, brochures
        • Untitled
      • auctions & tenders
      • statements of price
    • Acceptance
      • MUST be communicated!
      • based around the 'meeting of the minds' of those involved.
        • "Ad Idem" - meeting of the minds in Latin
      • If all the terms of the offer are matched by the other then acceptance is made.
      • The offeror must recieve the acceptance before it is effective
      • silence will NOT amount to acceptance
        • Felthouse v Bindley [1862]
      • Acceptance CAN be through conduct
        • Brogden v Metropolitan Railway co. [1877]
        • Butler Machine Tool v Ex-Cell-O corp. [1979]
    • exceptions to the acceptance rule
      • Postal Rule
        • where it is agreed that the parties will use the post as a means of communication.
        • the letter is properly addressed and stamped the acceptance takes place when the letter is placed in the post box.
      • unilateral offers
        • offer made to the general public
          • e.g. reward for lost dog.

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