1. An offer is a proposal by an offeror that, if accepted, will create a contrac
ID: 1091279 • Letter: 1
Question
1. An offer is a proposal by an offeror that, if accepted, will create a contract. Offers require that the offeror make a promise. The promise can be express or implied. The offer must bargain for a return promise, an act, or forbearance, and it must describe what is being offered (the subject matter) with enough certainty so that a court will not have to guess at what the offeror intended. The offer must be communicated to the offeree, and it must be proven that the offeror manifested the intent to make an offer. How would an offeree prove that an offeror intended to make an offer if the offeror alleged that she was only kidding or that her proposal was merely an invitation to the other party to make an offer?
2. Offerors have the legal right to revoke their offers if they effectively do so before the offeree accepts. There are, however, several circumstances that would preclude the offeror from revoking the offer. Please identify these circumstances and give an example of each.
Explanation / Answer
1. The complaining party must prove four elements to show that a contract existed:
I. Offer - One of the parties made a promise to do or refrain from doing some specified action in the future.
II. Consideration - Something of value was promised in exchange for the specified action or non action. This can take the form of a significant expenditure of money or effort, a promise to perform some service, an agreement not to do something, or reliance on the promise. Consideration is the value that induces the parties to enter into the contract.
III. Acceptance - The offer was accepted unambiguously. Acceptance may be expressed through words, deeds or performance as called for in the contract. Generally, the acceptance must mirror the terms of the offer. If not, the acceptance is viewed as a rejection and counteroffer.
(a) the terms of the acceptance significantly alter the original contract; or
(b) the offeror objects within a reasonable time.
IV. Mutuality - The contracting parties had
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