COMM 393 Lecture Notes - Lecture 1: Estoppel, Fax
Document Summary
Contract formation notes: all/both parties to a contract must have intent to be bound by their promises. Intent is presumed to exist in business relationships and in commerce generally. The presumption is the opposite in relationships between close friends and family members. There must be clarity on at least 3 terms; parties, exchange and subject matter of the contract: an invitation is not an offer than can be accepted; it is a proposal that lacks intent. Most advertisements are invitations unless the seller calls for an act by the buyer in which case it is an offer. (carlill v. carbolic smoke ball). A counter offer is any change to the terms of the original offer. A counter offer causes the original offer to lapse. (montane case) Revocation my mail is o(cid:374)l(cid:455) (cid:272)o(cid:373)plete upo(cid:374) deli(cid:448)er(cid:455) to the offeree"s usual address. Until all the terms of the contract have been accepted there is no contract.
