Formation 2

Question 1

offer elements required (3)

Answer 1

1. promise
2. definite terms
3. communication to the offeree

Question 2

promise overarching rule

Answer 2

there must be a present commitment rather than a mere invitation to begin negotiations

Question 3

are public offers (ads, catalogs, price quotes) offers?

Answer 3

no, they are invitations for offers

Question 4

exceptions where public offers are offers

Answer 4

promises to specific offerees (e.g., “first come, first served”; “only one can win”)

Question 5

does “puffery” create an offer?

Answer 5

no; jest or exaggeration does not create reasonable expectation in offeree (Pepsi Points Case)

Question 6

are reward offers offers?

Answer 6

offers to enter into a unilateral K, EXCEPT limit to how many they can accept

Question 7

are auctions offers?

Answer 7

no, auctioneer is inviting offers; bids are offers, EXCEPT where “without reserve”

Question 8

offer: “definite, certain terms” def’n

Answer 8

must sufficiently identify (1) offeree & (2) definite subject matter; ct may supply reasonable missing terms, except price in LSK

Question 9

offer: “definite, certain terms” in LSK

Answer 9

land and price

Question 10

offer: “definite, certain terms” in service K

Answer 10

nature of work