What are the requirements for a valid acceptance?

Acceptance must be clear and unambiguous (not have two possible meanings). The offeree's (seller's) acceptance must be communicated to the offeror (purchaser) to conclude a valid contract.

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Firm Offer for Sales Agreement with Specification of Manner of...

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

Q: What are the two rules of acceptance?

2 Rules regarding Valid Acceptance. 2.1 1 Acceptance can only be given to whom the offer was made. 2.2 2 It has to be absolute and unqualified. 2.3 3 Acceptance must be communicated. 2.4 4 It must be in the prescribed mode.

Category:

Contracts - Sale of Goods

State:

Multi-State

Control #:

US-02325BG

Format:

Instant download

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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How to fill out Firm Offer For Sales Agreement With Specification Of Manner Of Acceptance?

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FAQ

Acceptance of an Offer To accept an offer, a person must clearly communicate acceptance of its terms and a willingness to be bound. A person cannot accept an offer that has been revoked. Acceptance can be made orally or in writing, unless the terms of the offer require a specific form of acceptance.

An offer is an act on the part of one person whereby he gives to another the legal power of creating the obligation called contract. An acceptance is the exercise of the power conferred by the offer, by the performance of some other act or acts. Both offer and acceptance must be acts expressing assent.

To accept an offer, a person must clearly communicate acceptance of its terms and a willingness to be bound. A person cannot accept an offer that has been revoked. Acceptance can be made orally or in writing, unless the terms of the offer require a specific form of acceptance.

Acceptance can be expressly stated in writing or verbally, or implied through action or conduct. In order for acceptance to be valid, certain conditions must be met. These are mutual assent, adequate consideration in a contract, capacity, and legality.

1. Acceptance must be unequivocal with no requests for changes in the offer. 2. It may only be accepted by the intended offeree or the offeree's agent.

The offer is the proposal that is made by one party outlining the terms of the contract, the acceptance is the approval of the proposal (sometimes after negotiation) by another party, and the consideration is the exchange of value as stipulated in the contract.

2 Rules regarding Valid Acceptance. 2.1 1] Acceptance can only be given to whom the offer was made. 2.2 2] It has to be absolute and unqualified. 2.3 3] Acceptance must be communicated. 2.4 4] It must be in the prescribed mode.

Acceptance must be clear and unambiguous (not have two possible meanings). The offeree's (seller's) acceptance must be communicated to the offeror (purchaser) to conclude a valid contract.