Saturday, October 27, 2007

A Framework For Discussing Contracts

An offer is an act or statement that proposes definite terms & permits the other party to create a contract by accepting those terms
2 terms determine if a statement is an offer
1. Did the offer intend to make a bargain
2. Are the terms of the offer definite

(A promise or refrain from doing something that an individual is not otherwise legally obligated to do)

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