BUSINESS LAW Bachelor - Essay Example

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BUSINESS LAW Bachelor

Sagay, I.E., (1993) defined an offer in his book, Nigerian of contract as " a definite undertaking or promise made by one part with the intention that it shall become binding on the party making it as soon as it is accepted by the party to whom it is addressed".
Whizz PC Ltd becomes the offeror and Taite, Lewis and Co becomes the offeree. A contract comes into existence only between the offeror and the person or persons responding to the offer and accepting it. This principle was declared in the famous case of Carbolic Smoke Ball Co v. Carllil1 by brown, L.J., is now expressed by stating that an offer can be made not only to an individual or group of persons, but also to the whole world. In the case2, defendant had argued that no contract could arise from their advertisement because you cannot make a contract with the whole world. This argument the court demolished by stating as follows:
For an offer capable of becoming binding on acceptance, it must be definitely clear and final. If it is merely a preliminary move in negotiation which may lead to a contract, it not an offer but an invitation to treat. This was the case when Whizz PC Ltd sent its brochure to the Taite, Lewis and Co firm. ...
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Summary

Very often what one part regards as a clear -cut case of offer or acceptance is firmly rejected by the other part that claims that it is something else. Hence, related factors like invitation to treat, counter- offers, cross-offer, conditional acceptance, "provisional" agreement, acceptance in ignorance have all developed together with the study of what constitute an offer and acceptance respectively.
Author : katheryn45

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