Alabama Firm Offer for Sales Agreement with Specification of Manner of Acceptance

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Description

The Uniform Commercial Code (UCC) has been adopted in whole or in part by the legislatures of all 50 states. In most instances, the UCC treats all buyers and sellers alike. In some cases, it treats merchants differently than it does the occasional or casual buyer or seller. The UCC recognizes that the merchant is experienced and has a special knowledge of the relevant commercial practices.


Contract law as to offers is applicable to a sales contract, with the following exception. A firm offer by a merchant cannot be revoked if the offer:


" expresses an intention that it will not be revoked,

" is in a writing, and

" is signed by the merchant.


Unless it is expressly specified that an offer to buy or sell goods must be accepted just as made, the offeree may accept an offer and at the same time propose an additional term. This is contrary to general contract law.

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FAQ

A conditional or qualified acceptance is an acceptance that adds to, or changes, the terms of the original offer. This is essentially a counteroffer.

Because a counteroffer serves as a rejection, it completely voids the original offer. Thus, the original offer can no longer be accepted.

A counteroffer is a response given to an initial offer. A counteroffer means the original offer was rejected and replaced with another one. The counteroffer gives the original offeror three options: accept the counteroffer, reject it, or make another offer.

The pros of accepting a counter offer: One of the primary advantages of accepting a counter offer is the potential for increased compensation. Employers may match or exceed the salary offered by the new opportunity, providing immediate financial benefits that can be enticing.

Section 41-4-115 State departments and agencies authorized to enter into lease-sale contracts for procurement of equipment, etc.

A counter offer serves as a rejection of the original offer as well as a new offer. An acceptance conditional upon additional terms is considered a counteroffer.

The requirement of mutual agreement (also called mutual consent, or mutual assent, or meeting of the minds) means that there must be agreement to the provisions of the contract by the parties involved. In other words, there must be a mutual willingness to enter into a contract.

6 cons of accepting a counteroffer It can cause confusion about professional value. ... The job may not align with your long-term goals. ... It may affect your professional reputation. ... It may change the dynamics of your workplace. ... You might not receive another raise for a while. ... You may not have the potential for career advancement.

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Alabama Firm Offer for Sales Agreement with Specification of Manner of Acceptance