TAILIEUCHUNG - Lecture Business law: The ethical, global, and e-commerce environment (13/e): Chapter 11 - Mallor, Barnes, Bowers, Langvardt

After studying this chapter you will be able to: Explain elements of acceptance under common law and the UCC; determine how acceptance can be communicated, including by silence; determine when oral acceptance is effective. | Contracts Introduction to Contracts The Agreement: Offer The Agreement: Acceptance Consideration Reality of Consent 3 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. Contracts Capacity to Contract Illegality Writing Rights of Third Parties Performance & Remedies 3 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. The Agreement: Acceptance P A E T R H C 9 “Make your bargain before beginning to plow.” Arab proverb Learning Objectives Basics of Acceptance Intent Communication Special Problems 11 - Acceptance must be by clear expression by offeree of intent to be bound by terms of offer and communicated to offeror Only offeree may accept offer If offer calls for performance, then performance is acceptance Offeror may specify manner of acceptance Silence may be acceptance Requirements for Acceptance 11 - Example of specifying manner of acceptance: “notify of your acceptance in writing” .

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