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Episode 07: Mirror, Mirror – When Does Acceptance Create a Contract?
Manage episode 442503540 series 3593781
In this episode of Mastering Contracts, we delve into the critical concept of acceptance and how it plays a key role in the formation of contracts. We explore the mirror image rule, which requires an acceptance to exactly match the terms of the offer for a valid contract to form. But what happens if the acceptance deviates even slightly from the offer? Does that create a contract or a counteroffer? Join us as we break down these distinctions and explain when an acceptance is valid, how counteroffers complicate negotiations, and the modern-day exceptions under the UCC Section 2-207, which impacts contracts involving the sale of goods.
53 episodes
Manage episode 442503540 series 3593781
In this episode of Mastering Contracts, we delve into the critical concept of acceptance and how it plays a key role in the formation of contracts. We explore the mirror image rule, which requires an acceptance to exactly match the terms of the offer for a valid contract to form. But what happens if the acceptance deviates even slightly from the offer? Does that create a contract or a counteroffer? Join us as we break down these distinctions and explain when an acceptance is valid, how counteroffers complicate negotiations, and the modern-day exceptions under the UCC Section 2-207, which impacts contracts involving the sale of goods.
53 episodes
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