Consensus

Question 1

what are the requirements for OFFER and ACCEPTANCE?

Answer 1

1. offee must be made with INTENTION that OFFEROR will be LEGALLY BOUND by mere ACCEPTANCE of offeree
2. offer must be COMPLETE. contain all terms. which offeror willing to abide by.
3. offer must be CLEAR and CERTAIN
4. offer must be addressed to PARTICULAR PERSON.
5. offer and acceptance can be made in any manner.
6. offer only complete once COMMUNICATED. ACCEPTANCE, only complete once communicated.

Question 2

How does an offer fall away?

Answer 2

1. Expiary
2. Revocation
3. Rejection
4. counter offer
5. Death

Question 3

what are the special rules of O&A

Answer 3

ads are invitations to do business as well as:
price stickers
offers for reward
option
auction

Question 4

what is ‘Auction subject to reservation’?

Answer 4

Auctioneer extends INVITATION to people to mkae an OFFER.