Can a valid contract be formed if the terms agreed upon in the counter offer are not sufficiently certain and definite?
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what is a counter offer in contract law Informational
- What are the requirements for establishing frustration of contract? What are the legal implications of a counter offer that is accepted after a significant lapse of time, even if the original offer did not specify an expiration date?
- How can such offers affect the allocation of legal costs in a dispute? How does the concept of apparent authority apply to agents who make or receive counter offers on behalf of a principal?
- What are the requirements for a valid liquidated damages clause, and when might a court refuse to enforce it? What are the legal implications of a counter offer that seeks to impose an obligation on a third party who is not a signatory to the contract?
- Do statutes of frauds requirements extend to counter offers? If a counter offer is silent on certain terms that were included in the original offer, are those terms assumed to be part of the counter offer?
- How can a party increase the likelihood that their counter offer will be accepted?
- What constitutes a breach of the duty to negotiate in good faith? What are the legal implications of a counter offer that seeks to modify or exclude statutory rights or remedies that would otherwise apply to the transaction?
- For such terms to be legally binding, must they be clearly identified and accessible to both parties?
- What types of records should parties maintain to protect their interests in case of a dispute?
- Elements of a Valid Counter Offer What precisely defines a counter offer in the realm of contract law?
- Undue influence typically involves a relationship of trust or dependence where one party unfairly persuades the other. What evidence is needed to prove undue influence in the context of contract formation? What are the legal implications of a counter offer that seeks to incorporate industry standards or codes of practice by reference?
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