Self-learning guide
1. What it means to make an ‘Offer’
a. The offeror makes the offer
b. The offeror communicates the terms
c. The offeror agrees to the terms
d. The offeror is bound by the terms - if accepted
2. What is a Unilateral Offer?
a. Unilateral offer means only one party is obligated to the contract
b. According to Great Northern Railway Co. V Witham (1873)
c. Example: tom puts up a poster that anyone that could find and return his lost pet
dog would receive 3000 pounds. He is obligated to pay 3000 pounds to anyone
that finds and returns his dog. The promise is made. Though no one is obligated
to find and return his dog because in a unilateral contract only one party is
obligated to the contract.
d. Open to anyone
3. The difference between Unilateral and Bilateral Contracts
a. Unilateral: only one party assume obligation
b. Bilateral: mutual obligation
4. When an Offer lapses
5. How can an Offer be revoked? - it can be revoked anytime before the acceptance
1. What it means to make an ‘Offer’
a. The offeror makes the offer
b. The offeror communicates the terms
c. The offeror agrees to the terms
d. The offeror is bound by the terms - if accepted
2. What is a Unilateral Offer?
a. Unilateral offer means only one party is obligated to the contract
b. According to Great Northern Railway Co. V Witham (1873)
c. Example: tom puts up a poster that anyone that could find and return his lost pet
dog would receive 3000 pounds. He is obligated to pay 3000 pounds to anyone
that finds and returns his dog. The promise is made. Though no one is obligated
to find and return his dog because in a unilateral contract only one party is
obligated to the contract.
d. Open to anyone
3. The difference between Unilateral and Bilateral Contracts
a. Unilateral: only one party assume obligation
b. Bilateral: mutual obligation
4. When an Offer lapses
5. How can an Offer be revoked? - it can be revoked anytime before the acceptance
