Business Law #4 Case Study Example | Topics and Well Written Essays - 500 words

Business Law #4 - Case Study Example The "mirror image rule" states that if you are to accept an offer, you must accept the offer exactly, without modification. If you change the offer anyway, this is a counter offer that kills the offer (Uniform Commercial Code, Section 2-207). An offer and acceptance is one of the elements used to determine whether a contract exist between two parties. Offer is defined as may be defined as an expression of willingness to contract on certain terms, made with the intention that I shall become binding as soon as it is accepted by the person to whom it is addressed. Acceptance, on the other hand, is a final and unqualified expression of assent to the terms of the offer ("Offer and Acceptance - Acceptance"). As the general contract law principles which are applicable in almost all jurisdictions, the offer by the person making the offer (offeror) must be accepted without qualification or further negotiation by the other party to whom the offer was made (offeree). Once an offer was made, the offerre can respond in four ways: accept, reject, make a counter offer, or do nothing.