TAILIEUCHUNG - Gale Encyclopedia Of American Law 3Rd Edition Volume 3 P20

Gale Encyclopedia of American Law Volume 3 P20 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | 178 CONTRACTS when learned by the offeree. Where an offer is made to the general public it can be revoked by furnishing public notice of its termination in the same way in which the offer was publicized. Irrevocable Offers An option is a right that is a party purchases in order purchased by a person to have an offer remain open at agreed-upon price and terms for a specified time during which it is irrevocable. It constitutes an exception to the general rule that an offer may be withdrawn prior to acceptance. The offeror may not withdraw this offer because that party is bound by the consideration given by the offeree. The offeree is free however to decide whether or not to accept the offer. Most courts hold that an offer for a unilateral contract becomes irrevocable as soon as the offeree starts to perform the requested act because that action serves as consideration to prevent revocation of the offer. Where it is doubtful whether the offer invites an act as in the case of a unilateral contract or a promise as in the case of a bilateral contract the presumption is in favor of a promise and therefore a bilateral contract arises. If an offer to form a unilateral contract requires several acts it is interpreted as inviting acceptance by completion of the initial act. Performance of the balance constitutes a condition to the offeror s duty of performance. Where such an offer invites only a single act it includes by implication a subsidiary promise to keep the offer open if the offeree will commence performance. Some courts hold that an offer for a unilateral contract may be revoked at any time prior to completion of the act bargained for even after the offeree has partially performed it. Rejection of an Offer An offer is rejected when the offeror is justified in understanding from the words or conduct of the offeree that he or she intends not to accept the offer or to take it under further ADVISEMENT. Rejection might come in the form of an express refusal to accept an .

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