COMM 393 Lecture Notes - Lecture 4: Fax, Kob
Document Summary
An offer is a proposal of some sort plus intent. 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. Most advertisements are invitations unless the seller calls for an act by the buyer in which case it is an offer. (carlil v. carbolic smoke. A counter offer is any change to the terms of the original offer. A counter offer causes the original offer to lapse. (montane. Lapse or expiry of an offer happens when the time limit specified in the offer expires, after a. Revocation of an offer is permitted by the offeror if it is before acceptance. This is true even if the offeror promised to hold the offer open to the offeree for a specified period of time. This is because the promise to hold the offer open is.
