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Offer and Invitation

QuestionAnswer
What is a contract? A legally binding reciprocal agreement.
What are the components of a valid contract? Offer, acceptance = agreement + consideration with intention
What is an offer? A clear, certain and unambiguous statement of the terms on which the offerer is willing to contract should the offeree elect to accept.
What is a unilateral offer? An offer which involves performance on one side making obligatory the promise on the other and in which only one party is bound.
What is a bilateral contract? A contract in which both parties promise to perform mutual duties and in which both parties are bound.
What is an invitation to treat? A statement made without intending a contract to result if the other party indicates their consent.
Name different types of invitations to treat? Advertisements, goods in windows, auctions, invitations to tender
What was the point in Leonard and Pepsi Co? The advertisement was 'mere puffery' - a representation no reasonable person would expect to be true.
What are exceptions to the rule that advertisements are invitations to treat? Where the contract is clear and explicit and leaves nothing open to negotiation. Where a unilateral offer indicates an intention to be bound.
What was the point in Lefkowitz? The offer was clear, definite and explicit. It left nothing to be negotiated (first come, first served). Therefore, it was a unilateral offer and not an invitation to treat.
What was the point in Carlill and Carbolic Smoke Co? The presence of the bank's address/ the statement that the money had been deposited indicated an intention to be bound.
What was the point in Pharmaceutical Soc. of Great Britain v Boots? Goods on shelves did not constitute an offer. The offer was made at the cash desk by the consumer.
What governs the law on auctions? Section 58(2) of the Sale of Goods Act 1893
Who makes the offer in an auction? Are there exceptions? The bidder. The exception to this is if there is a collateral contract such as to sell without reserve. The auctioneer is bound to give the sale to the highest bidder.
Can an offer in an auction be revoked? Yes, at any time up to the completion of the auction when the auctioneer drops the hammer.
Name a case used to illustrate the presence of collateral contracts in auctions? Barries v Davies. An auctioneer would not accept the highest bid in an auction without reserve. The auctioneer had breached a collateral contract in withdrawing the machines
Does a collateral contract still stand if there is no principal contract? Refer to case law. Yes. Warlow v Harrison
Is a tender offer an offer? No an invitation to tender is an invitation to treat, except where stipulated that the tender will go to the highest bidder or such.
What case established there can be a collateral contract to consider tenders? Blackpool and Fylde Aero Club Ltd v Blackpool Borough Co.
What case established there was a collateral contract that the vendor reserved the right to retract at any time? Howberry v Telecom Eireann, RTE
What case established there was a collateral contract to accept the lowest price for shares? Harvela Investments v Royal Trust of Canada and Outerbridge. Outerbridge had submitted a referential bid.
What cases deal with collateral contracts in auctions and tenders? Auctions = Warlow v Harrison, Barries v Davies Tenders = Blackpool and Fylde Aero Club Ltd v Blackpool Borough Co., Howberry, Harvela Investments v Royal Trust of Canada, Outerbridge
Is a quotation an offer? No, while a statement of quotation may resemble an offer, it is merely a step in he negotiation. There is no intention for a contract to result as a result.
Name two cases dealing with quotations? Boyers and Co. v Duke - quoted price for canvass. Found clerical error. Harvey v Facey - Bumperhall Pen
Created by: sineadgriffin