Forming a Contract

An offer is a willingness to immediately enter into a ___ with the person to whom the offer is made.

An offer can be made in writing, verbally, or conducted through a ___.

An offer can be accepted, refected, rejected with a new offer (counter-offer), or ___ by the offeror (offeror pulls back his offer).

A buyer walks into a shopping mall and has the following conversation with the seller:

Buyer: “What is the price for this T-shirt?”

Seller: “$450”

Buyer: “I accept!”

This is a/an:

• Offer

• Supply of Information

• Unilateral offer

• Advertisement

"I offer to pay $1000 to anyone who finds my lost dog". This is a/an:

• Invitation to treat

• Unilateral offer

• Counter-offer

• Request of Information

An advertisement on a newspaper states that:

“New Apple iPhone X 32GB for sale, $100. Call 123-456-789 if interested". This is a/an:

• Supply of information

• Offer

• Invitation to treat

• Unilateral offer

In an auction, the auctioneer says:

"Our last artwork is a contemporary artwork, created by Anna Loaisn. We are setting $200,000 as a start."

This is not an invitation to treat.

• True

• False

Acceptance is a willingness to enter immediately into a legally enforceable contract with the offeror on the terms offered.

• True

• False

If you accept an offer by posting a traditional letter, when will the acceptance become effective ?

• When the offeror receives the letter.

• It never becomes effective because we must accept face-to-face.

• Right when the letter is finalized and sent.

Offer: “I offer to sell you my laptop for $800”.

Response: “Okay, I accept your offer if you will also include a free USB drive.

This is a/an:

• acceptance of the offer

• counter-offer

• rejection of the offer