BUS-294 Lecture Notes - Lecture 22: Estoppel
23 Sep 2020
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Offeror must intend to be bound if offeree accepts if you make an offer and the offeree accepts, you are bound to the offer. Outward conduct vs. what someone is thinking what you say is more important to the court than what you"re thinking about in your head. Material terms which are vague may render the contract unenforceable specific details of the agreement must be presented in order to be definite and certain. Must proved communication of an offer and it must be received. Advertisements: not an offer of exchange, it"s an offer for you to come check out the deals/products. Auctions: auction items sometimes with a reserve, which is a minimum amount of a bid highest bidder does not necessarily get the item if the bid doesn"t meet the reserve. Occurs when the offeree brings a counter offer that is then rejected by the offeror. Offer is automatically revoked if it is not accepted before death of the offeror.
