1. General Rule- an advertisement isNOT an offer, but an invitation tomake an offer. There are exceptions,they focus on whether theadvertisement is specific about howmany of the advertised items areavailable, and specific on who canaccept it.
2. Is there revocation of the offer?
A. Lapse of Time?i. Lapse of time is the easiest way to terminate an offer ii. Watch for situation where nothing is said how long you have toaccept.1. even if there is no express time limit, the courts will imposea reasonable time limit.B. When was the Offer Made?i. How long of a gap b/w offer and acceptance?1. if too long… it may be terminatedC. If the offeror dies, the offer dies with them.D. Revoked?i. How does it happen?1. Through words or conduct of the offeror.2. the trick will always be in communicationa. Revocation is a 2-player game. Offeree must beaware.ii. When does it happen?1. Revocation must come before acceptance.iii. When CAN’T you revoke?1. when both promise not to revoke and give someconsideration for that promise2. UCC firm-offer rule- promise not to revoke offer.3. Reliance- offer has been relied on.a. Start of performance pursuant to an offer to enter into a unilateral K. Once there has been a start of performance, it is irrevocable.3.
Is there rejection of the offer?
(not likely to see direct rejection)A. Counter Offer i. Kills deal 100%. (common law and UCC)B. Conditional Acceptancei. I accept: if, but, provided… kills offer. (common law and UCC)C. Additional Termsi. I accept, AND… (common law, but
UCC)1. Common law has mirror image rule. The acceptance mustbe exactly the same as the offer