Understanding Contract of Sale and Invitation to Treat Quiz

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What is the central notion of a contract?

Concept of bargain

According to Sir Federick Pollock, what is a contract?

A promise enforced by law

Which element is not required for a valid contract?

Intention to engage in a business transaction

What is essential for a valid offer according to the law?

<p>Certain terms</p> Signup and view all the answers

In a contract, what follows a valid offer?

<p>Acceptance</p> Signup and view all the answers

Which term represents a promise or set of promises for the breach of which the law gives a remedy?

<p>Contract</p> Signup and view all the answers

Based on the case of Lefkowitz v Great Minneapolis Stores, what did the US court consider the advertisement to be?

<p>A unilateral offer</p> Signup and view all the answers

In the case of Carlill vs. Carbolic Smoke Ball Co.Ltd, what type of advertisement was considered to be an offer?

<p>Unilateral</p> Signup and view all the answers

According to Justice Murphy in the case of Lefkowitz v Great Minneapolis Stores, what determines whether a newspaper advertisement is an offer or an invitation to make an offer?

<p>The legal intention of the parties and the surrounding circumstances</p> Signup and view all the answers

What was the outcome for the plaintiff in the case of Lefkowitz v Great Minneapolis Stores after appearing at the seller's place of business?

<p>Entitled to performance by the defendant</p> Signup and view all the answers

What concept did the Divisional Court rely on to quash the appellant's conviction in offering a wild live bird for sale?

<p>Invitation to treat</p> Signup and view all the answers

In the context of advertisements, what did Justice Murphy consider as necessary for an offer to be clear and explicit?

<p>Leaving nothing open for negotiation</p> Signup and view all the answers

In an auction sale without a reserve price, what may it constitute to the highest bidder?

<p>An offer</p> Signup and view all the answers

According to the case of WARLOW v HARRISON (1859) 29 LJ QB 14, what did the Plaintiff challenge in the auction sale?

<p>The ownership of the goods</p> Signup and view all the answers

What did Baron Martin state in the case of WARLOW v HARRISON regarding the relationship between the auctioneer and the Plaintiff?

<p>There is a contract between them</p> Signup and view all the answers

Which law regulates auction sales according to the text provided?

<p>Sale of Goods Act, 1962 (Act 137)</p> Signup and view all the answers

What does an announcement about goods being put up for auction signify according to the text?

<p>An invitation to treat</p> Signup and view all the answers

In an auction sale, which of the following statements is true regarding the goods displayed?

<p>The goods displayed are invitations to treat.</p> Signup and view all the answers

According to PAYNE v CAVE (1789), what happens if a bidder withdraws their bid before the auctioneer's hammer falls?

<p>The bid is not considered an offer, and there is no contract formed.</p> Signup and view all the answers

In the case of HARRIS v NICKERSON (1873), what did Harris sue the auctioneer for?

<p>For the loss of his time and expenses in attending the auction.</p> Signup and view all the answers

What was the outcome in GRAINGER & SON v GOUGH (1896) regarding price lists, catalogues, and brochures?

<p>They were invitations to treat.</p> Signup and view all the answers

What constitutes an offer in an auction sale according to the information provided?

<p>The bids made by persons in attendance.</p> Signup and view all the answers

Which case established that withdrawing a bid before its acceptance constitutes no contract?

<p>PAYNE v CAVE (1789)</p> Signup and view all the answers

When is a sale by auction deemed complete?

<p>When the auctioneer announces its completion by the fall of the hammer</p> Signup and view all the answers

In a sale by auction, what action can a bidder take until the auctioneer announces the completion of the sale?

<p>Retract their bid</p> Signup and view all the answers

What happens in a sale by auction when the auctioneer refuses to accept the highest bid in a 'without reserve' sale?

<p>The highest bona fide bidder is entitled to buy the goods at the price bid</p> Signup and view all the answers

When can the seller or their representative make a bid in a sale by auction?

<p>If a right to bid is expressly reserved</p> Signup and view all the answers

What type of bid can the seller or their representative make in a sale by auction that is subject to a reserve price?

<p>One bid and no more</p> Signup and view all the answers

What defines each lot in a sale by auction?

<p>A separate contract of sale</p> Signup and view all the answers

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