How does an Offer End (the deal is not done)?

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Presentation transcript:

How does an Offer End (the deal is not done)? Before or without acceptance…

Revocation Revoke before acceptance (Take it back) Do you want to buy this car for $2,000, no never mind. Time State in Offer Stated when offered how long offer stands and time expires before acceptance (Let me know before Tuesday or the deal is off.) Reasonable Time Length After a “reasonable” amount of time, it just ends. Do you want to buy this ice cream cone for $1.00, an hour later, it’s too late for the deal. Rejection Offeree clearly rejects the offer. No I don’t want to buy it. Counteroffer Offeree changes offeror’s terms; makes new offer. Wanna pay $2,000. No but I’d pay $1,500. Death One party dies before acceptance Insanity One party declared insane before acceptance Destruction of Property Property in question is destroyed before acceptance. Let me know tomorrow if you want to buy my car. Later that night, car is totaled.

Assignment Your choice – decide how you are going to remember these…pick a project to help in this manner Examples Design a cartoon for each Make a song, rap, or poem about them Make flash cards Make a crossword puzzle (make key first, then puzzle) Pick your own project… Projects may be displayed in or around the classroom area, so be proud of your work…