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* Chapter 2 The Law of Contract Acceptance Offer Agreement * Facing a Legal Question You and three co-workers ride to work each day in Julio’s automobile, which has a market value of $8,000. One cold morning the four of you get into the car, but Julio cannot get it started. He yells in anger, “I’ll sell this car to anyone for $500!” You drop $500 in his lap. Is the car yours? Would a reasonable person conclude that this was a serious offer? * Agreement/Consensus Equals offer plus acceptance Parties come to a common understanding Terms must be clear and unambiguous * An offer is a promise or commitment to perform or refrain from performing some specified act in the future. It contains the terms of the anticipated contract. Offer * Elements of an Offer (1)?? serious objective intent (2)? clarity and definiteness of terms communication to the offeree * Objective Intention The offeror’s words must give the offeree assurance that a binding agreement is intended. A party’s intention to enter into a contract is judged by outward公开的 , objective facts as interpreted by a reasonable person, rather than the party’s own subjective intentions. * Are they offers? Offers made in Jest, Anger, or excitement Expression of Opinions Preliminary Negotiations * Example 2-5 Hawkins took his son to McGee, a doctor, and asked McGee to operate on the son’s hand, which had been scarred in an accident. McGee said the boy would be in the hospital three or four days and that the hand would probably heal within a few days. The hand became infected, and the son was hospitalized for three months. Did the father win a suit for breach of contract? * Are they offers? (Continued) Advertisements, mail-order catalogues, quotation sheets and circular letters Rewards * Are they offers? (Continued) Auctions (1)Auction with reserve: the right to refuse the highest bid and withdraw the goods (2) Auction without reserve: the selle
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