2. Contract I: essential features of a contract (original) (raw)

Offer and acceptance are the fi rst stages in establishing an agreement that may form a legally • binding contract. The terms that will bind the parties are included here. Offers may appear similar to an invitation to treat (which is an invitation to negotiate) but they • must be distinguished so as to determine who the offeror is and which party(s) may accept. Generally, items on display on the shelves in a shop, advertisements in newspapers, items • displaying a price tag in shop windows, and information in auction catalogues have been held to be invitations to treat.