Untitled Quiz

A final and unqualified agreement to the terms of an offer, resulting in a binding contract.

The act of conveying acceptance to the offeror.

Acceptance must usually be communicated to the offeror for a contract to be formed.

Acceptance is effective when the letter is posted, not when received.

The 'time and place' of receipt is critical in the context of electronic communications under the Electronic Transactions Act.

Acceptance occurs by performance of an act, not by communication.

Acceptance can be inferred from conduct, rather than explicit communication.

An offeror can waive the need for explicit communication of acceptance.

Acceptance of an offer cannot be inferred solely from silence.

A case illustrating that silence does not constitute acceptance of an offer.

Acceptance can be demonstrated through actions (conduct) rather than explicit agreement.

A case showing acceptance can occur despite the lack of a formal contract, through conduct.

A guide for enacting laws regarding electronic commerce and electronic documents

Explicitly naming the specific information systems intended for electronic communication.

Acceptance that is derived from an individual's actions or behaviors, not from explicit language.

Acceptance can be communicated through conduct, but not inferred simply from silence.

A mere puff is an exaggeration, not a serious offer. A real offer shows a commitment to be bound.

An invitation to treat is not a binding offer; it's simply an invitation to make an offer. An offer is a commitment.

An offer made to the general public, accepted by performance. Unlike a normal offer, acceptance doesn't require communication.

Accepting an offer by completing a required action, like using a smoke ball in Carlill.

Displaying goods in a shop is an invitation to treat, not an offer. Customers make the offer when they select the goods.

Benefit gained by one party and detriment to another. The Smoke Ball company gained promotional advantage; Carlill suffered the inconvenience of using the smoke ball.

Acceptance of a unilateral offer (e.g., Carlill) occurs through performance of the required act. No communication is needed.

An offer that lacks essential details or is unclear, leading to potential contract issues.

Something of value exchanged between parties in a contract, which can be a promise, an act, or a forbearance. It is a key element for a contract to be legally binding.

An agreement involving the performance of services followed by a promise to pay for those services can be considered a valid contract as long as the services are not gratuitous.

A gift or favor done without expecting anything in return.

Acting upon a promise, even though it is not legally binding, and experiencing harm as a result.

In a business context, providing services in exchange for receiving ownership shares in a company can be considered valid consideration.

An offer can be withdrawn by the offeror before it's accepted.

Offer can be revoked any time before acceptance is communicated.

A court case demonstrating that an offer can be revoked if the offeree learns that the offeror has sold the item to someone else.

Revocation is effective only when it's communicated to the offeree.

Public offers can be revoked in a similar way they were made (e.g., same media).

An exception to revocation; if consideration is paid to keep an offer open, it cannot be revoked.

For unilateral contracts, if performance has begun, it may be impossible to revoke.

Revocation is effective when communicated by a reliable source.

A contract where acceptance is by performing the requested act, not by communication.

A landmark case illustrating the need for consideration in unilateral contracts; the Commonwealth's promise to pay subsidies was not a binding contract as there was no quid pro quo.

The bargain element: something of value given in exchange for a promise.

Latin for "this for that" - the essential element of consideration, where each party gives and receives something of value.

A conditional gift is a promise only made if a condition is met, not binding; an enforceable promise requires consideration.

The Commonwealth's promise of a subsidy was not made in exchange for AWM buying wool, but rather as a policy decision.

A promise must be in return for an act, and the act must be performed in consideration of the promise, creating a quid pro quo.

The court found that the Commonwealth's promise was not made in return for AWM's actions; the promise was not a true contract.