Week 2 - Offer

A unilateral contract _______ immediately impose an obligation on either party to perform.

Which scenario looks most like a bilateral contract?

• Party A promises to pay $100 for Party B to give Party A a book.

• Party A promises to give $100 in exchange for the return of their missing cat.

These features must be present for an offer to be legally effective

• a clear statement that contains the essential terms of the agreement

• a monetary exchange

• a statement made to another person

• offeror intends to be bound by the terms.

The display of an article together with its price constitutes an invitation to treat.

• True

• False

An off can be withdrawn at any time ______ acceptance.

You don't have to communicate your intention to withdraw your offer to the offeree.

• true

• false

If you make an error in an electronic communication, you can withdraw the offer whenever.

• true

• false