MGSC30H3 Lecture 8: Enforcing a Contract
Document Summary
Once accepted, the two paries have a contract. Invitaions to make an ofer are not ofers. Person must be aware an ofer has been made. No contract if you learn aterward there was an ofer and you performed. In general, purchaser is bound by terms. Purchaser must have noice of general terms and clear opportunity to refuse. Purchaser must have special noice of unexpected terms. Not accepted in reasonable ime, if no ime speciied. Either party dies or becomes mentally incompetent. Lapsed ofer is void and cannot be accepted. Any acceptance is itself a new ofer. Separate contract to keep ofer open, and not contract with anyone else, for speciied ime, or unil speciied event. You exercise the opion by taking up the ofer, or you may not take up the opion and it will expire. Any subsequent reply may consitute a counterofer, and the process starts all over.
