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These rules might require, for instance, that conflicting terms in the offer and acceptance are "knocked out" and replaced by default language provided in the Code. [31] An acceptance is only contractually valid if the proposal to which response is made is an offer capable of acceptance.
An offeree exercises the power of acceptance in order to trigger the offeror's obligation of performance with reference to the terms of the offer. Disputes may arise as to whether the power of acceptance is valid at the time the acceptance is made, therefore challenging the very existence of the contract. [2]
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 ...
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 ...
One cannot doubt that, as an ordinary rule of law, an acceptance of an offer made ought to be notified to the person who makes the offer, in order that the two minds may come together. Unless this is done the two minds may be apart, and there is not that consensus which is necessary according to the English law - I say nothing about the laws of ...
Day 3: Before A receives B's acceptance, B telephones A and states she wishes to reject the offer. Day 4: B's original letter of acceptance arrives, A then records the contract as a sale. B's acceptance of the offer means there is a binding contract – she is obliged to pay for the land or be liable for damages.
As an offer states the offeror's willingness to be bound to the terms proposed therein, [27] a purported acceptance that varies the terms of an offer is not an acceptance but a counteroffer and hence a rejection of the original offer. The principle of offer and acceptance has been codified under the Indian Contract Act, 1872. [28]
The rules by which many contracts are governed are provided in specialized statutes that deal with particular subjects. Most countries , for example, have statutes which deal directly with sale of goods, lease transactions, and trade practices.