Chapter 8 - Offer, acceptance, and mutual assent. After completing this chapter, students will be able to: Define mutual assent, identify the elements of an offer, explain the UCC’s concept of offer in contract law, explain the nature of acceptance, define the mirror image rule, | Business Law with UCC Applications,13e Offer, Acceptance, and Mutual Assent Chapter 8 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives Define mutual assent. Identify the elements of an offer. Explain the UCC’s concept of offer in contract law. Explain the nature of acceptance. Define the mirror image rule Learning Objectives (cont.) Explain the process of revocation. Identify those statutes that affect mutual assent in cyberspace. Explain the elements of fraud and misrepresentation. Identify the effects of mistake on mutual assent. Describe duress and undue influence. Offer, Acceptance, and Mutual Assent Mutual Assent and the Offer The Nature of Mutual Assent Requirements of an Offer Offer, Acceptance, and Mutual Assent Requirements of an Offer Serious Intent Clear and Reasonably Definite Terms Degree of Definiteness Offers and the UCC Communication to the Offeree Offer, Acceptance, and Mutual Assent Acceptance of an Offer | Business Law with UCC Applications,13e Offer, Acceptance, and Mutual Assent Chapter 8 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives Define mutual assent. Identify the elements of an offer. Explain the UCC’s concept of offer in contract law. Explain the nature of acceptance. Define the mirror image rule Learning Objectives (cont.) Explain the process of revocation. Identify those statutes that affect mutual assent in cyberspace. Explain the elements of fraud and misrepresentation. Identify the effects of mistake on mutual assent. Describe duress and undue influence. Offer, Acceptance, and Mutual Assent Mutual Assent and the Offer The Nature of Mutual Assent Requirements of an Offer Offer, Acceptance, and Mutual Assent Requirements of an Offer Serious Intent Clear and Reasonably Definite Terms Degree of Definiteness Offers and the UCC Communication to the Offeree Offer, Acceptance, and Mutual Assent Acceptance of an Offer Communication of Acceptance Unequivocal Acceptance Implied Acceptance Silence as Acceptance Rejection and Revocation Option Contracts Offer, Acceptance, and Mutual Assent Communication of Acceptance Face-to-Face and Telephone Communication Long-Distance Communication Text Messages The Uniform Commercial Code Offer, Acceptance, and Mutual Assent Unequivocal Acceptance The Mirror Image Rule Counteroffers under the UCC Offer, Acceptance, and Mutual Assent Implied Acceptance Unordered Merchandise Offer, Acceptance, and Mutual Assent Options Contracts Firm Offers and the Sale of Goods Contracts Lease Options and Real Property Offer, Acceptance, and Mutual Assent Mutual Assent in Cyberspace The E-Sign Act The Uniform Electronic Transactions Act The Uniform Computer Information Transactions Act Offer and Acceptance in Cyberspace Offer, Acceptance, and Mutual Assent The Destruction of Mutual Assent Fraud and Misrepresentation Mistake, Duress, and Undue Influence Offer, Acceptance, and Mutual
