Exam 10: Mutual Assent

An offer may be made to the general public.

On May 1, a civic club made an offer to pay a beer distributor to have ten kegs delivered to the city park for a July 4th fund-raising event.On June 1, the city passed a new law prohibiting consumption of alcohol in the city park, effective June 30.The civic club's offer is terminated on June 1.

Carlissa hears about a reward being offered by the local sheriff's office for information leading to the arrest and conviction of a local rapist.She supplies the requested information and the suspect is then arrested and convicted.In this case:

In the Osprey L.L.C.v.Kelly-Moore Paint Co.,Inc.case, the Supreme Court of Oklahoma held that:

A contract is invalid if all of the terms are not clearly stated.

Elmer wrote a letter to his friend Fred offering to sell Fred an 80-acre farm for $200,000.After mailing the letter, Elmer learns that the farm is actually worth $300,000 and changes his mind about selling.In this case, Elmer:

If Anna Laura, in return for the payment of $200 to her by Catherine, gives Catherine an option to buy Achraji, a prime Arabian mare, at any time within the next 14 days at a price of $50,000, Anna Laura's offer to Catherine is:

Maxine offered to sell her video camera to Tom for $200 and also stated to Tom, "I will give you two weeks to accept my offer." One week later Tom learned that Maxine had sold the video camera to Cindy.In this case:

Marilyn read an ad in the school newspaper offering a $1,000 swimming scholarship to anyone who could swim 500 laps in the school pool.Marilyn called the advertiser and began swimming.She has reached lap number 460; she feels great and is sure she can make it all the way.The advertiser:

Destruction of the subject matter has what effect on the offer?

Under FTC regulations and state legislation, a seller may not advertise goods at one price and then raise the price once demand has been stimulated.

Serafina's Boutique places an ad in the Sunday paper for finely tailored, top-of-the-line designer suits for $10.00, which is a misprint.Alice sees the ad in the paper and goes to the store to stock up on business suits for her new job.Serafina apologizes for the misprint.Alice has just finished a class in contract law and insists that the store sell her five suits for $50.Alice threatens to sue Serafina for breach of contract.

A defective acceptance does not create a contract, but does constitute a new offer.

If no time is stated, an offer will terminate automatically after a reasonable period of time.

If a person, without knowing of an advertised reward for information leading to the return of a lost dog, gives information that leads to its return, is she entitled to the reward?

Elvis makes an offer to Fred, but before Fred can accept, the state supreme court decides a case that makes Elvis's offer illegal.The court's decision:

If Todd seemingly offers to sell to Ashton his wood gun cabinet but intended to and believes he is offering his wood china cabinet, and Ashton accepts the offer, reasonably believing it is for the gun cabinet, a contract is formed for the sale of the gun cabinet.

To be effective, an offer must:

In order to form a contract, the parties must:

Pedro receives an unordered three-CD set in the mail accompanied by the statement, "This CD set can be purchased for the special price of $19.95.If the CDs are not returned within two weeks they will be deemed accepted and the payment is due within 30 days of receipt of the CDs." Pedro is under no obligation to either return the CDs or to pay for them; he may use them or give or throw them away.