Define mutual assent.
Identify the elements of an offer.
Explain the UCC’s concept of offer in contract law.
Explain the nature of acceptance.
Define the mirror image rule
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Business Law with UCC Applications,13eOffer, Acceptance, and Mutual AssentChapter 8McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Learning ObjectivesDefine mutual assent.Identify the elements of an offer.Explain the UCC’s concept of offer in contract law.Explain the nature of acceptance.Define the mirror image ruleLearning Objectives (cont.)Explain the process of revocation.Identify those statutes that affect mutual assent in cyberspace.Explain the elements of fraud and misrepresentation.Identify the effects of mistake on mutual assent.Describe duress and undue influence.Offer, Acceptance,and Mutual AssentMutual Assent and the OfferThe Nature of Mutual Assent Requirements of an OfferOffer, Acceptance,and Mutual AssentRequirements of an OfferSerious IntentClear and Reasonably Definite TermsDegree of DefinitenessOffers and the UCCCommunication to the OffereeOffer, Acceptance,and Mutual AssentAcceptance of an OfferCommunication of Acceptance Unequivocal Acceptance Implied Acceptance Silence as Acceptance Rejection and Revocation Option ContractsOffer, Acceptance,and Mutual AssentCommunication of AcceptanceFace-to-Face and Telephone CommunicationLong-Distance CommunicationText MessagesThe Uniform Commercial CodeOffer, Acceptance,and Mutual AssentUnequivocal AcceptanceThe Mirror Image RuleCounteroffers under the UCCOffer, Acceptance,and Mutual AssentImplied AcceptanceUnordered Merchandise Offer, Acceptance,and Mutual AssentOptions ContractsFirm Offers and the Sale of Goods ContractsLease Options and Real PropertyOffer, Acceptance,and Mutual AssentMutual Assent in CyberspaceThe E-Sign Act The Uniform Electronic Transactions Act The Uniform Computer Information Transactions Act Offer and Acceptance in CyberspaceOffer, Acceptance,and Mutual AssentThe Destruction of Mutual AssentFraud and Misrepresentation Mistake, Duress, and Undue InfluenceOffer, Acceptance,and Mutual AssentFraud and MisrepresentationFraudTypes of FraudMisrepresentationOffer, Acceptance,and Mutual AssentMistake, Duress, and Undue InfluenceThe Nature of MistakeThe Nature of DuressThe Nature of Undue Influence
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