2.1. Offer & Acceptance

Try these first

1. 1.

   Define an offer in your own words.

   Hint

   Consider what a person must do in order to enter a contract.

2. 2.

   What is unconditional acceptance?

   Hint

   Think about what makes acceptance valid.

3. 3.

   Which of the following is not a requirement for an offer?

   • Must be communicated
   • Must be definite
   • Can be ambiguous

   Hint

   Remember the key elements of a valid offer.

4. 4.

   True or False: Silence constitutes acceptance in all cases.

   • True
   • False

   Hint

   Reflect on when silence may be considered acceptable.

5. 5.

   A buyer offers to purchase a house, but the seller responds that they would only sell it with a renovation included. Is this a counter-offer or acceptance?

   Hint

   Reflect on the differences in responses to original offers.

6. 6.

   John offers to sell his bike for $200. Sam responds with a new offer of$150. What is the status of John's original offer?

   Hint

   Consider how negotiation alters contractual terms.