Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ICAEW Law 01: Contract formation. > 01. Offer and acceptance. > Flashcards

01. Offer and acceptance. Flashcards

1
Q

A definite promise to be bound on specific terms.

A

Offer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Offer.

A

A definite promise to be bound on specific terms.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Only an … is capable of acceptance.

A

offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

A supply of information (is / is not) an offer.

A

is not

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

A statement of intention (is / is not) an offer.

A

is not

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Advertising that an auction will take place (is / is not) an offer.

A

is not

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A party initiating negotiations is making an …

A

invitation to treat.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

An invitation to treat (can / can not) be accepted.

A

can not

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

An indication that a person is prepared to receive offers with a view to entering into a binding contract.

A

Invitation to treat.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Invitation to treat.

A

An indication that a person is prepared to receive offers with a view to entering into a binding contract.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Typical invitations to treat: A*, GoD, PL

A

advertisments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Typical invitations to treat: A, GoD*, PL

A

goods on display

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Typical invitations to treat: A, GoD, PL*

A

price lists

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

If goods displayed on a supermarket shelf were offers rather than invitations, removal of them would constitute an …

A

acceptance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

An offer (can / can not) be made to a class of persons.

A

can

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

An offer (can / can not) be made to the world at large

A

can

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

An offer to the world at large is often known as a … contract.

A

reward

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

An offer dies through either A* or T.

A

acceptance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

An offer dies through either A or T*.

A

termination

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

An offer dies through either …

A

acceptance or termination.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Methods of termination of offer: R*, CO, LoT, R, FOP

A

rejection

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Methods of termination of offer: R, CO*, LoT, R, FOP

A

counter-offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Methods of termination of offer: R, CO, LoT*, R, FOP

A

lapse of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Methods of termination of offer: R, CO, LoT, R*, FOP

A

revocation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Methods of termination of offer: R, CO, LoT, R, FOP*

A

failure of a precondition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Rejection.

A

The termination of an offer by the offeree.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

The termination of an offer by the offeree.

A

Rejection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

The termination of an offer by the offeror.

A

Revocation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Revocation.

A

The termination of an offer by the offeror.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

An unqualified agreement to all the terms of an offer.

A

Acceptance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Acceptance.

A

An unqualified agreement to all the terms of an offer.

32
Q

An offer made in response to another offer, involving a matarial variation of its terms.

A

Counter-offer.

33
Q

Counter offer

A

An offer made in response to another offer, including a matarial variation of its terms.

34
Q

An offer with no specified time limit expires after …

A

a reasonable time.

35
Q

An open offer (may / may not) be revoked by the offeror.

A

may

36
Q

A request for information (is / is not) a counter-offer.

A

is not

37
Q

An offeror is only bound to keep an offer open if …

A

a separate contract exists to that effect.

(There would therefore need to be additional consideration, such as a deposit or puchase of an option.)

38
Q

A necessary condition within an offer.

A

Precondition.

39
Q

Precondition.

A

A necessary condition within an offer.

40
Q

A request for specific delivery requirements in a contract for the sale of goods (is / is not) usually deemed to be a counter offer.

A

is not

41
Q

A request for specific delivery requirements in a contract for the sale of goods is not usually deemed to be a …

A

counter-offer

42
Q

A material variation of the terms of an offer is a …

A

counter offer

43
Q

Acceptance by conduct must be a …

A

positive act

44
Q

In ‘Carlill,’ Mrs Carlill beginning to use the Smoke Balls was a positive act and therefore …

A

an acceptance of Carbolic’s offer.

45
Q

An offeror (can / can not) assume acceptance, for example after a specified time limit has elapsed.

A

can not

46
Q

An offer (can / can not) be deemed to be accepted by the conduct of the offeree.

A

can

47
Q

In ambiguous cases the court will consider all the facts to determine if there is … in order to determine whether there has been an ‘agreement’ between parties.

A

an offer and its acceptance

48
Q

In reward contracts the offeror waives their right to …

A

communication of acceptance

49
Q

If no method is specified, an offeree can communicate acceptance by any … method.

A

reasonable

50
Q

The postal rule (does / does not) apply to acceptance.

A

does

51
Q

The postal rule (does / does not) apply to revocation.

A

does not

52
Q

The postal rule (does / does not) apply to instantaneous methods of communication.

A

does not

53
Q

The postal rule applies if the communication of acceptance by post is in the …

A

reasonable contemplation of both parties.

54
Q

Postal rule.

A

The situation whereby the acceptance of an offer is binding as soon as the offeror places it into the postal system, properly stamped and addressed, and where postal acceptance is within the reasonable contemplation of both parties.

55
Q

The term ‘by notice in writing’ means that acceptance must be …

A

received by the offeror.

56
Q

The postal rule (does / does not) apply to email.

A

does not

57
Q

An offer to which a potential acceptor is not aware (can / can not) be accepted.

A

can not

58
Q

A person who returns a lost dog, finding out later that a reward existed (can / can not) legally claim that reward.

A

can not

59
Q

Agreement (offer and acceptance of specific terms) can be implied by …

A

conduct.

60
Q

An offer cannot be revoked once …

A

the acts of acceptance have started.

61
Q

An attemtpt to materially vary the terms of an offer, for example that for the sale of a helicopter, is a …

A

counter-offer

62
Q

An acceptance from an unauthorised person, for example a chair of school governors with no power to act unilaterally is …

A

invalid.

63
Q

If an acceptance of a contract is properly put in the post but never arrives …

A

the acceptance is nevertheless deemed to be valid.

64
Q

Drugs and poisions on the shelf of a chemist’s shop are …

A

invitations.

65
Q

Goods, including flick knives, in a shop window are …

A

invitations.

66
Q

Adverts, including those for potected species are …

A

invitations

67
Q

Catalogues, including those for wine are …

A

invitations.

68
Q

Adverts offering rewards, including for the apprehension of criminals, the search for lost dogs, or in return for catching influenza are …

A

offers

69
Q

In the overwhelming majority of cases advertisments are …

A

invitations.

70
Q

In the overwhelming majority of cases advertisments are …

A

invitations.

71
Q

An advertisment may only be deemed an offer under contract law if there is some element of …

A

reward.

72
Q

Communication of revocation of an offer (is / is not) valid through a reliable third party.

A

is

73
Q

An advertisement to hold an event, including one for an auction, is a …

A

statement of intent

74
Q

A response to a communication over acceptable terms, for example the lowest acceptable price for a plot of land …

A

is not an offer capable of acceptance.

75
Q

The postal rule applies only to …

A

acceptance, not to revocation.

76
Q

A party wishing to revoke an offer, including one for the sale of tinplates which subsequently rise in value, can NOT rely on …

A

the postal rule.

77
Q

A party must be aware of a reward in order to claim it because …

A

a reward is an offer, and one must be aware of an offer in order to accept it and thereby create a binding contract.

ICAEW Law 01: Contract formation. (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions