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Management and Organizational Studies 2275A/B Study Guide - Standard Form Contract, Upper Clements, Cash Register

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plumweasel877
3 Oct 2012
School
Western University
Department
Management and Organizational Studies
Course
Management and Organizational Studies 2275A/B
Professor
Frederick King

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Document Summary

Before a contract can take place, the parties must be in agreement. The agreement then takes the form of offer and acceptance. Offer a promise to enter into a contract on specified terms as soon as the off is accepted: certainty of offer all essential terms must be set out or the contract will fail for uncertainty. Invitation to treat: an offer is different from a communication that merely expresses a wish to do business, invitation to treat simply a willingness to do business. Advertisements in retail stores are invitations to treat. Display of goods invitation to treat. Customer takes item to cash register offer to purchase at sticker price. Termination of offer: an offer can be accepted only if it is alive , an offer can be terminated or taken off the table by any of the following events: The offeror can revoke his off at any time before acceptance by notifying the offeree.

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