8. In what cases are acts and conduct of the proposing successful?
9. Who has a right to accept an offer/ how is an offer rejected?
Exercise 2. Find in the text English equivalents to the following:
Договор на условиях оплаты фактических расходов с начислением определенного процента от этих расходов; договор на условиях оплаты по текущим рыночным ценам; предложение товара или ценных бумаг по твердой цене; приглашение сделать оферту; адресат оферты; оферент; оферта, обращенная к неопределенному кругу лиц; отклонение; аннулирование.
Exercise 3. Consult recommended dictionaries and give words or phrases to the following definitions:
Отзыв акцепта; публичная оферта; извещение об отзыве оферты; безотзывность оферты; приглашение делать оферту; акцепт, полученный с опозданием; отказ от акцепта.
Exercise 4. Be ready to talk on one of the following topics:
1. Identify the three requirements of a valid offer.
2. Differentiate between a public offer and an invitation to trade.
3. Explain acceptance of an offer in the cases of a unilateral contract and a bilateral contract.
4. Discuss the mirror image rule.
5. Relate the various means by which an offer can be revoked.
6. Explain what is meant by a firm offer.
Exercise 5. Make up your own dialog on the case: In Universal Oil Products. v. S.C.M. Corp., the seller sent a written offer to the buyer that did not contain a provision for arbitration of any disputes. The buyer responded with a written purchase order that did contain a provision for arbitration. The court treated the buyers order as a counteroffer, rather that as an acceptance with a proposal for additional terms. Since the seller shipped the goods pursuant to the buyers order, the court found that the seller thereby accepted the counteroffer and became bound to arbitrate.
Exercise 6. Resume in industry buzz: Offer: commitment communicated to identified offeree & containing definite terms
1. Commitment: reas. person hearing words under these circum.
believes speaker intends to enter into K (OBJECTIVE) (Public ad to identified offeree, 1st 10, is an offer)
-> Code's way of objectively determining is course of dealing – worst is actual words used
2. Communicated to ID'd Offeree (ACTUAL KNOWLEDGE)
-> Another can tell him; public offer accepts & is ID'd at same time
3. Containing Definite Terms: must address s/matter of K w/ certainty to be valid a. Real Estate (desc. & price)
b. Goods (quantity, except offers for total requiremts based on past hx or offers for total outputs are based on last yr output or most mfrs)
