Professor Paul J. Carrier Contracts I Class 2 Professor Paul J. Carrier MYLEGS.org ©2018 Paul J. Carrier

Main Topics of Contracts I 1. We are still in “Formation” (Week 2 of 7 weeks) MYLEGS.org ©2018 Paul J. Carrier

Main Topics of Contracts I 1. Formation (7 weeks) 2. Last time: the four elements and the first one: the OFFER MYLEGS.org ©2018 Paul J. Carrier

Main Topics of Contracts I 1. Formation (7 weeks) – briefly review 2. Last time: the four elements and the first one: the OFFER 3. current intent; communicated; definiteness of terms* MYLEGS.org

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 The second element of a contract (ACCEPTANCE) and its three components MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 The second element of a contract (ACCEPTANCE) and its three components The (current) intent to accept MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 The second element of a contract (ACCEPTANCE) and its three components The (current) intent to accept Communicated (offeror has to know of it) MYLEGS.org ©2018 Paul J. Carrier

Main Issues of Class 2 The second element of a contract (ACCEPTANCE) and its three components The (current) intent to accept Communicated (offeror has to know of it) “Mirror Image” (‘old school’) –vs.- “Responsive” (more ‘new school’) v

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE If offer expects acceptance by performance, it is UNILATERAL MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE If offer expects acceptance by performance, it is UNILATERAL If offer expects a promise to perform, it is BILATERAL MYLEGS.org ©2018 Paul J. Carrier

MYLEGS.org ©2018 Paul J. Carrier Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE If offer expects acceptance by performance, it is UNILATERAL If offer expects a promise to perform, it is BILATERAL 1st requires completion for payment, but performance is not legally enforceable MYLEGS.org ©2018 Paul J. Carrier

Main Issues of Class 2 Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE If offer expects acceptance by performance, it is UNILATERAL If offer expects a promise to perform, it is BILATERAL 1st requires completion for payment, but performance is not legally enforceable 2d is a promise to perform and offeree can be required to finish, or be in breach MYLEGS.org

Main Issues of Class 2 The second element of a contract (ACCEPTANCE) and its three components The (current) intent to accept Communicated (offeror has to know of it) “Mirror Image” (‘old school’) –vs.- “Responsive” (more ‘new school’) Main Issues of which to be aware Offeror is “master of the offer” … if the offeror specifies how acceptance must be done, such as “only when the acceptance reaches my hands by Friday,” then this is what is required – this is the “mirror image” concept If mode of acceptance NOT rigidly specified, “close enough” works – i.e., the acceptance, when pretty close to what offeror expects, is RESPONSIVE If offer expects acceptance by performance, it is UNILATERAL If offer expects a promise to perform, it is BILATERAL 1st requires completion for payment, but performance is not legally enforceable 2d is a promise to perform and offeree can be required to finish, or be in breach MYLEGS.org