Paper, Order, or Assignment Requirements
Topic:Jack calls up Jill and says, “Hey Jill I’ll buy 40 of those widgets from you for $300?” Jill replies, “You know Jack, the best deal I can give you is $350.” Jack replies, “I’ll take it!” IRAC.
Help:You MUST IRAC these questions. I provide an example under this week’s assignment tab. Here is a big hint:
Issue: Is there a contract between _________ and _________
Rule: A contract requires an offer, acceptance and consideration
An offer requires intent definite and certain terms and communicated to the offeree.
Intent requires serious intention to be bound by the contract. Here_____showed intent to enter into a contract by asking . . . Therefore there was intent.
Definite and Certain Terms
In order for there to be definite and certain terms there generally needs to be the parties, subject matter, consideration to be paid and payment terms). The parties are . . . the subject matter is . . . etc., you can also discuss “quantity”.)
Therefore there were definite and certain terms.
The offer was communicated to the offeree because ________ said, “. . . “Therefore the offer was communicated.
Because these three elements were satisfied, __________ made a proper offer to __________.
After you establish that there has been an offer you now need to determine if there has been a revocation, rejection etc. ONLY discuss relevant issues.
Remember that when you discuss “offer” you should only be discussing what Jack is saying. Jill’s response has to be either an acceptance, counteroffer, rejection or possibly an option contract.
Did _________ properly revoke his offer to _________?
Rule: An offeror can revoke his/her offer any time prior to the offeree accepting it. In the facts indicate . . . . (Note you would only discuss revocation if the facts indicated that the offeree tried to take back his/her offer). The same would be true for rejection, counter offer and operation of law.
Now you’re ready to discuss Acceptance
Issue: Did ____________ accept __________’s offer?
Rule: An acceptance must mirror the offer
Analysis: _________acceptance mirrored the offer because he said, “. . .” and this tends to show . . . .
Conclusion: Therefore there was an acceptance.