Terms: Acceptance a final and unqualified expression of assent to the terms of an offer (per Treitel). In unilateral contracts: acceptance is achieved by fully performing the required act or forbearance. There is generally no need for the offeree to give advance notice of acceptance to offeror. Bilateral contract a bilateral contract is an agreement constituted by an exchange of promises. When the contracting parties are bound to fulfil obligations reciprocally toward the other. The contract is formed by the exchange of promises in which the promise of one party is consideration supporting the promise of the other Contract a promise that is enforceable in the courtroom; Courts enforce mutual agreement freely consented to by each party of the contract Consensus ad idem An agreement of parties to the same thing; a meeting of minds. Invitation to treat an expression of willingness to do business. The party “does not make an offer but invites the other party to do so” (per Treitel). (Leading case Boots) Mirror Image Rule The acceptance must precisely match the terms of the offer Offer “an expression of willingness to contract on specified terms, made with the intention that it is to become binding as soon as it is accepted by the person to whom it is addressed” (per Treitel). McCamus: quotation of price doesn't constitute offer. Actions following offer can indicate acceptance (Canadian Dyers Association Ltd v Burton) Unilateral contract "one in which one party makes an express engagement or undertakes a performance, without receiving in return any express engagement or promise of performance from the other. Neither party is bound until the promisee accepts the offer by performing the proposed act. It consists of a promise for an act, the acceptance consisting of the performance of the act requested, rather than the promise to perform it.” Unilateral contracts are very rare. McMacmus: a promise in exchange for an act; that the offeror is prepared to be bound by certain promises if the offeree performs a stipulated act and performance will stipulate acceptance (Leading case Carlill v Carbolic Smoke Ball Co) CHAPTER II. FORMATION OF THE AGREEMENT: OFFER AND ACCEPTANCE 15 Offer; Acceptance; Unilateral contract; bilateral contract; Nudum partum; Mirror Image Rule; Invitation to treat; Consensus ad idem; Consideration;
Terms: Acceptance a final and unqualified expression of assent to the terms of an offer (per Treitel). In unilateral contracts: acceptance is achieved by fully performing the required act or forbearance. There is generally no need for the offeree to give advance notice of acceptance to offeror. Bilateral contract a bilateral contract is an agreement constituted by an exchange of promises. When the contracting parties are bound to fulfil obligations reciprocally toward the other. The contract is formed by the exchange of promises in which the promise of one party is consideration supporting the promise of the other Contract a promise that is enforceable in the courtroom; Courts enforce mutual agreement freely consented to by each party of the contract Consensus ad idem An agreement of parties to the same thing; a meeting of minds. Invitation to treat an expression of willingness to do business. The party “does not make an offer but invites the other party to do so” (per Treitel). (Leading case Boots) Mirror Image Rule The acceptance must precisely match the terms of the offer Offer “an expression of willingness to contract on specified terms, made with the intention that it is to become binding as soon as it is accepted by the person to whom it is addressed” (per Treitel). McCamus: quotation of price doesn't constitute offer. Actions following offer can indicate acceptance (Canadian Dyers Association Ltd v Burton) Unilateral contract "one in which one party makes an express engagement or undertakes a performance, without receiving in return any express engagement or promise of performance from the other. Neither party is bound until the promisee accepts the offer by performing the proposed act. It consists of a promise for an act, the acceptance consisting of the performance of the act requested, rather than the promise to perform it.” Unilateral contracts are very rare. McMacmus: a promise in exchange for an act; that the offeror is prepared to be bound by certain promises if the offeree performs a stipulated act and performance will stipulate acceptance (Leading case Carlill v Carbolic Smoke Ball Co) CHAPTER II. FORMATION OF THE AGREEMENT: OFFER AND ACCEPTANCE 15 Offer; Acceptance; Unilateral contract; bilateral contract; Nudum partum; Mirror Image Rule; Invitation to treat; Consensus ad idem; Consideration;