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Law and Legal Studies

Contract Law

Assignment and Delegation in Contracts

Basic Contract Law Terminology

Capacity to Contract

Consideration in Contracts

Contractual Risk Allocation Clauses

Contract Formation Case Studies

Contract Breach Remedies

Contract Law: Theories and Doctrines

Contract Interpretation Principles

Contract Law Landmark Cases

Contract Law: Key Terms Definitions II

Duress and Undue Influence

Elements of a Valid Contract

Express vs. Implied Contracts

Illegality and Public Policy in Contracts

Incapacity and Illegality Defenses in Contract Law

Liquidated Damages Clauses

Misrepresentation and Fraud in Contracts

Offer and Acceptance in Contracts

Performance and Discharge in Contracts

Privity of Contract

The Parol Evidence Rule

Unjust Enrichment and Restitution

Warranties and Covenants

Void, Voidable, and Unenforceable Contracts

Quieting Title Actions in Contracts

Statute of Frauds

Offer and Acceptance in Contracts

Flashcards

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Alice says to Bob, 'I'll sell you my bike for $100.' Bob replies, 'I accept your offer.'$

Valid offer and acceptance: Alice has made a clear offer and Bob has unequivocally accepted it.

A sign in a store window says 'Bikes for sale, $100 each.'$

Not a valid offer: This is an invitation to treat, which invites customers to make an offer to purchase.

Chan emails Lee: 'I agree to purchase 100 units of your product at $50 per unit.' Lee replies: 'Confirmed, delivery next month.'$

Valid offer and acceptance: Chan has made an offer, and Lee has accepted the terms resulting in a contract.

During a phone call, Alex says to Jordan: 'I might sell my guitar for around $300.' Jordan responds: 'I'll take it for$ 300.'

Not a valid offer: Alex's statement is too vague and indicates no clear intention to sell at a definite price.

Dina says to Sam, after negotiations, 'I'll sell you my car for $5,000, offer expires in two weeks.' Sam nods in agreement.$

Valid offer, but not valid acceptance: While Dina has made a valid offer, Sam's nod does not communicate acceptance explicitly.

In response to Rita's ad, Harry texts 'I hereby offer $500 for the computer you advertised.' Rita texts back, 'Sure, it's yours.'$

Valid offer and acceptance: Harry has made a valid offer, which Rita has unequivocally accepted.

Paula mentions to Kyle, 'I'm considering selling my mountain bike.' Kyle says, 'I'll buy it for $400!'$

Not a valid offer: Paula's statement is a mere expression of intent without any firm commitment.

A restaurant menu lists a lobster dinner as 'Market Price.' Tom tells the waiter, 'I will have the lobster.'

Valid acceptance, offer implied: The menu acts as an invitation to treat, and Tom's order is an offer, which the waiter can accept on behalf of the restaurant.

Liz emails a car dealer: 'I offer to buy the 2015 Sedan for $8,000.' Dealer replies, 'Can you pay$ 8,200?'

Not a valid acceptance: The dealer's response is a counter-offer, not an acceptance of Liz's original offer.

Ted announces in a crowded room, 'I'll sell my guitar to whoever gives me $500.' Uma says, 'I'll give you$ 500 for the guitar.'

Valid offer and acceptance: Ted made a public offer, and Uma's statement is a clear acceptance of that offer.

Gwen, a famous painter, tells her friend: 'I'll sell any of my paintings to you for $1,000.' The friend says, 'I'll think about it.'$

Valid offer, but not valid acceptance: Gwen's statement is a standing offer; her friend's response does not constitute acceptance.

Bob sees a 'car for sale' sign on a parked vehicle with a listed price of $5,000. He leaves a note saying, 'I accept your offer.'$

Not a valid acceptance: There is no evidence that the car owner has made an explicit offer to Bob specifically.

A job advertisement states, 'Salary starts at $40,000.' An applicant sends a response saying, 'I accept the job for$ 42,000.'

Not a valid acceptance: The applicant has made a counter-offer by changing the terms of the salary.

Ivy says to Jay, 'I'll sell you my bike for $200 if you promise to fix my computer.' Jay replies, 'Deal, I promise.'$

Valid offer and acceptance: Ivy made a conditional offer which Jay has accepted with a promise to fulfill the condition.

Hank emails a book seller: 'Will you sell 'War and Peace' for $10?' The seller replies, 'Yes, we will sell it to you for$ 10.'

Valid offer and acceptance: Hank's email constituted an enquiry that led to an offer by the seller, which Hank can now accept.

Sarah tells Jim: 'I'll pay you $100 to design my website next month.' Jim replies, 'Send me the details and I'll confirm.'$

Not a valid acceptance: Jim's response is not an acceptance but a deferral, as he is asking for more information before agreeing.

Omar puts up a poster saying, 'Lost dog, $200 reward for its return.' Nadia finds and returns the dog.$

Valid acceptance: Nadia has performed the requested act, which constitutes implicit acceptance of the terms of the 'reward' offer.

A club promotes membership as 'First month free!' Josh signs up providing his payment details for subsequent months.

Valid offer and acceptance: The club's promotion is an offer, and Josh's signup, providing payment details, is an acceptance.

Kim says to a contractor: 'How much to repair my roof?' The contractor responds: 'It'll cost $2,500.'$

Not a valid offer: The contractor has provided an estimate/quote which is not an offer, but rather a preliminary step before an offer.

Neil tells Eve, 'I will sell you this painting for $1,000, but you must decide by tomorrow.' Eve says, 'Okay, I'll decide by then.'$

Valid offer, but not valid acceptance: While Neil's offer is clear and has a deadline, Eve's response is not an acceptance, merely an acknowledgment.

Vicky emails her neighbor: 'I'll sell you my lawnmower for $150. Let me know by Friday.' The neighbor ignores the email.$

Valid offer, but no acceptance: Vicky has made an offer with a deadline, and the neighbor's lack of response cannot be considered acceptance.

Leo writes to Maya offering to buy her car for $5,000. Maya's response is, 'Only if you pay in cash.'$

Not a valid acceptance: Maya has not accepted Leo's terms but has instead made a counter-offer which changes the terms of the initial offer.

A gym membership contract states, 'Renewal is automatic unless canceled in writing.' A member does not cancel in writing.

Valid acceptance by conduct: The member's inaction in light of the contractual provision constitutes acceptance of the contract's renewal terms.

Phil offers to sell his bike to Dana for $250, stating, 'This offer is valid for 24 hours.' Before Dana accepts, Phil sells the bike to someone else.$

Invalid offer: Phil revokes the offer before acceptance, even though the specified time period has not elapsed.

Grace bids $15,000 at an auction for a vintage car by raising her paddle. The auctioneer acknowledges the bid by saying, 'Bid noted for$ 15,000.'

Valid offer and implicit acceptance: Grace's bid is an offer, and the auctioneer's acknowledgment indicates the acceptance of her bid, subject to any higher bids.

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