CCO Exam Part 1

CCO Exam Part 1

1. Offer

   • Define Offer
   • Offer communicated?
     • Who was offer made to?
   • Issue of ticket
   • Display of ticket machine

2. No Offer

   • Agreement without offer and acceptance
   • Invitation to treat
     • Advertisement to world at large
     • Shop Display
     • Auction/internet Auction
     • Call for Tenders
       • Evaluate bids in way promised
       • Two Contracts: bi -- call for tenders; uni -- promise to eval in certain way
     • Internet Adds
       • if indicates intention of party to be bound upon acceptance becomes offer
     • Define
     • Circulation of price list
   • Offer with no intention
   • Request for info
   • Puffery

3. Termination of offer

   • Revocation
   • Lapse
   • Offeror dies
   • failure of condition
   • Counter offer
   • rejection
   • Cross offer

4. Acceptance

   • Define
   • Can only be accepted by offeree
   • what was offered is what can be accepted
   • must be unqualified
   • standard forms
     • second form is counter offer
   • conditional acceptance
   • subject to contract
   • must be communicated
   • by conduct
   • prescribed method
   • POSTAL RULE
     • Exceptions
   • can be revoked b4 communication
   • putting money in ticket machine
   • issue of ticket with time to consider terms
   • must be communicated

5. not Acceptance

   • cannot claim reward if didnt know about it
   • Counter offer
   • Silence

6. Intention

   • Define
   • determined objectively
   • reasonable person test

7. consideration

   • Define
   • must move from promisee
   • doesnt have to move to promsior
   • must be bargained for
   • must flow from one of joint pomisees
   • may be benefit or detriment
   • hold value in eyes of law
   • sufficient but not adequate
   • nominal

8. not good consideration

   • moral obligation
   • past consideration
   • promise to perform existing duties
     • stylk v Myrick rule
       • Execptions
         • undertaking to do more than obliged under contract
         • promise to perform existing duties benefits modding party
       • promise to perform existing duties to 3rd party
   • partial payment of debt
     • exceptions
   • performance of public duty