Written by attorneys · grounded in primary & secondary sources — see below
A party who makes an offer or proposal. In contract law the proposal invites acceptance and creates a power of acceptance in the recipient unless revoked or otherwise terminated.
AtlasApps introduced only the first half of a deposition in which a witness admitted a data breach. NimbusCloud demanded the remaining pages showing the witness also described mitigation steps taken immediately afterward. The court required AtlasApps as offeror to introduce the omitted portions so the jury could evaluate the admission fairly.
Oliver Okeke offered to sell his warehouse to Odilia Okamura for $1.2 million. Okamura replied that she would pay $1.1 million and close in sixty days. Because her response proposed different terms, it operated as a counter-offer that ended Okeke's original offer.
Select any source to read its text and confirm it supports the definition.
Outback Mining, a merchant, signed a writing assuring Omega Energy it would hold open an offer to sell mining equipment for ninety days. Because the assurance appeared in a signed record, Outback could not revoke the offer for lack of consideration during the stated period.
Oakridge Manufacturing's board submitted a merger plan to shareholders and recommended they tender shares to the offeror. The recommendation satisfied the statute's requirement that directors advise shareholders how to respond to the proposed transaction.
Orion Orlov offered to buy Octavia Okonkwo's patent for $400,000. Okonkwo proposed $450,000 instead. Her counter-offer terminated her power to accept Orlov's original terms unless he manifested a contrary intention.
Odette Orozco offered to pay Orion Technologies $50,000 if it began installing solar panels within ten days. Orion started work but failed to notify Orozco for three weeks. Orozco could treat the offer as lapsed before acceptance.
Yes. Under the Restatement, an offeree's power of acceptance ends when the offeree makes a counter-offer unless the offeror has manifested a contrary intention.
When fairness requires that other parts be considered together with the portions already introduced, the adverse party may require the offeror to introduce those parts.
The signed assurance makes the offer irrevocable for the stated time or a reasonable time, not to exceed three months, even without consideration.
Yes. If beginning performance is a reasonable mode of acceptance, the offeror who receives no notice within a reasonable time may treat the offer as having lapsed.
…regulatory gap. The Act imposes several requirements. First, it requires that upon the commencement of the tender offer, the offeror file with the SEC, publish or send to the shareholders of the target company, and furnish to the target company detailed information about the offer. 15 U. S. C. § 78n(d)(1); 17 CFR §…