Agreement

1
CHAPTER 11
Agreement
2
MEETING OF THE MINDS

• The parties can form a contract only if they had
  a meeting of the minds.

3
OFFER
An offer is an act or statement that proposes
definite terms and permits the other party to
create a contract by accepting those terms.

• Intent
• Definiteness

4
TERMINATION OF OFFERS

• Termination by Revocation
• Common Law Rule
• Option Contract
• Sale of Goods

5
TERMINATION OF OFFERS (contd)

• Termination by Rejection
• Termination by Expiration
• Termination by Operation of Law

6
ACCEPTANCE

• The offeree must say or do something to accept.
• Bilateral contract
• Unilateral contract

7
MIRROR IMAGE RULE

• Requires that acceptance be on precisely the same
  terms as the offer.

8
COMMUNICATION OF ACCEPTANCE

• Medium and Manner of Acceptance
• Time of Acceptance The Mailbox Rule

9
CYBERLAW

• Clickwraps
• Shrinkwraps

10
PROMISSORY ESTOPPEL

• Under the doctrine of promissory estoppel even if
  there is no contract a promise may be enforceable.