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In contract law, there are established rules and principles for various issues concerning contract formation, such as cross offers, [5] awareness of offer, [6] notification of acceptance, [7] timing of acceptance, [8] and postal rule. [9] Power of acceptance is part of the contract formation analysis, and which concerns the validity of acceptance.
An acceptance is an agreement, by express act or implied from conduct, to the terms of an offer, including the prescribed manner of acceptance, so that an enforceable contract is formed. [ 2 ] In what is known as a battle of the forms , when the process of offer and acceptance is not followed, it is still possible to have an enforceable ...
If the offer specifies a method of acceptance (such as by post or fax), acceptance must be by a method that is no less effective from the offeror's point of view than the method specified. The exact method prescribed may have to be used in some cases but probably only where the offeror has used very explicit words such as "by registered post ...
The English common law established the concepts of consensus ad idem, offer, acceptance and counter-offer. The leading case on counter-offer is Hyde v Wrench [1840]. [ 3 ] The phrase "Mirror-Image Rule" is rarely (if at all) used by English lawyers; but the concept remains valid, as in Gibson v Manchester City Council [1979], [ 4 ] and Butler ...
An endorsement purporting to add terms and conditions is called a conditional endorsement – for example, "Pay to the order of Amy, if she rakes my lawn next Thursday November 15th, 2007". The UCC states that these conditions may be disregarded. [18] If a note or draft is negotiated to a person who acquires the instrument in good faith; for value;
Unconditional positive regard, a concept initially developed by Stanley Standal in 1954, [1] later expanded and popularized by the humanistic psychologist Carl Rogers in 1956, is the basic acceptance and support of a person regardless of what the person says or does, especially in the context of client-centred therapy. [2]
Conditional approval, on the other hand, comes in after initial approval — and in fact, after you’ve signed a contract to buy a home and formally applied for a mortgage. This stage involves a ...
For example. A promises to deliver certain goods to B after a week. B promises to pay the price after a fortnight, such consideration is future. Consideration must be real. Consideration must be real, competent and having some value in the eyes of law. For example, A promises to restore life to B's dead wife, if B pays him Rs.1000/—.
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