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What is offer & acceptance in contract law?
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Feb 6, 2012 · For a contract to be valid and therefore legally binding, five conditions must be met. First, there must be the mutual consent of both parties. No one can be held to a promise involuntarily made.
Sep 19, 2022 · The elements of acceptance in contract law are those elements that make up the valid acceptance of a contract's terms. In this context, acceptance means an absolute and unconditional agreement to all terms.
- Contract Defined. See Canadian Abridgment: CON.I.1 Contracts — Nature of contract — What constitutes contract. A contract is a legally recognized agreement between two or more persons which gives rise to an obligation that may be enforced in the courts.
- Consensus Ad Idem. See Canadian Abridgment: CON.III.1 Contracts — Formation of contract — Consensus ad idem. Since mutuality lies at the root of any legally enforceable agreement, a contract requires a meeting of the minds of the parties on all essential matters relating to it (consensus ad idem).
- Uncertainty and Incompleteness of Terms. See Canadian Abridgment: CON.III.1.b Contracts — Formation of contract — Consensus ad idem — Certainty of terms.
- Necessity for Formal Written Contract. See Canadian Abridgment: CON.III.1.b Contracts — Formation of contract — Consensus ad idem — Certainty of terms.
Learning Objectives. Understand the fundamental elements of a contract, including offer, acceptance, and consideration. Differentiate between unilateral and bilateral offers and understand the acceptance requirements associated with each type.
Mode of Acceptance. Acceptance can be communicated by words or conduct: Brogden v Metropolitan Co (1877) 2 App Cas 666. Silence without any conduct cannot normally amount to acceptance: Felthouse v Bindley [1862] EWHC CP J35. There are some exceptions to this, however: Re Selectmove [1995] 1 WLR 474.
Aug 20, 2023 · Offer and acceptance are foundational to contract law, marking the initial stages of a contract’s formation. While the principles might seem straightforward, their application can be intricate, especially in modern contexts like e-commerce.
Principle 1: Acceptance must be unequivocal. This essentially means that there must be nothing left to be negotiated by the parties. This is a simple principle, which in fact ties in with Principle 2 below. Principle 2: Acceptance must mirror the offer.
