CONTRACT

Annotations:

• ' element of exchange ' case - CURRIE V MISA (1975) MAIN RULES : 1. for there to be sufficient consideration WHITE V BLUETT 2. Consideration must have some value, but it need not be adequate or match the ' value ' put in by the other person '

1. offeror

   Annotations:

   • the person making the offer
2. offeree

   Annotations:

   • the person to whom the offer is made to Required acceptance from the offeree
3. must be certain
4. Offer

   Annotations:

   • statement of terms by which the offeror is prepared to be bound - therefore no further negotiations have to take place because it is intended to be bound
   1. rules

      Annotations:

      • an offer can be made to one person or a group of people, which case it can only be accepted by the person or the group. an offer can also be made to the whole world. eg reward Vending machines and automatic ticket machines make standing offers.
5. 'invitation to treat'

   Annotations:

   • an invitation for someone to make an offer
6. when does an offer come into existence

   Annotations:

   • A person cannot accept what he or she does not know about. An off er must be communicated - when made in writing its communicated when received and read by the offeree. - when made orally will be communicated when heard by the offeree -when made in conduct will be communicated when seen by the offeree 

1. unconditional agreement

   Annotations:

   • 1. An acceptance is unconditional agreement to all the terms of the offer by words or conduct
2. Conduct

   Annotations:

   • carlill v Carbolic smoke ball co - must be clear that the offeree did the required conduct with the intention
3. acceptance by offeree

   Annotations:

   • Another person who hears the offer was made cannot try to accept it as the offere was not ot them.
4. Eliason v Henshaw

   Annotations:

   • E offered to buy flour from H. Offer said that the acceptance must be given to the wagoner who who had delivered the offer.
5. other than by acceptance , how can an offer come to an end

   Annotations:

   • REJECTION : once the refusal of an offer has been communicated to the offerer the offer is ended. REVOCATION : An offer can be withdrawn by the offeror at any time before as it has been accepted BYRNE V VAN TIENHOVEN 1880
   1. counter - offer

      Annotations:

      • An offer ends if the oferee makes a counter offer. a response introducing NEW terms , rather than accepting all the terms of the original offer. HYDE V WRENCH
   2. Lapse of time

      Annotations:

      • can also end by lapse of time if the offerorsets a time limit for the acceptance of the offer - OFFER ONLY EXISTS IN THE SET TIME... if no time limit is specified , the offer will remain open for a reasonable time. What is considered reasonable depends on the circumstances. RAMSGATE VICTORIA HOTEL V MONTEFIORE (1866)
   3. Specified event

      Annotations:

      • An offer which stated to come to an end if a certain event occurs cannot be accepted after that event has actually taken place.
      1. death of the offeror

         Annotations:

         • an offeree cannot accept an offer once he knows or she knows that the offeror has died