1. The withdrawal of an offer 2. The revocation of an offer
Invalidation of an Offer
1. The expiry date 2. Rejection 3. Counter-offer 4. Force Majeure 5. In case that the offeror or offeree becomes
Definition
An offer is a proposal of terms and conditions presented in a potential contract by one party, called the offeror, to anther party, called the offeree.
Counter Offer
Counter offer means a reply to the offer made by the offeree, not accepting completely the terms of the offer and with the proposal to modify or change it.
2. The validity time in an offer not stipulated definitely
3. An oral offer
The time for an offer coming into effect
The Withdrawal and the Revocation of an offer
incapable of legal transaction (such as insanity, death etc.), the offer is invalid.
Inquiry
The non-firm offer is legally called as invitation to for offer, referring to with an intention to purchase or sell some certain commodities, one party inquires about the trade terms to the other party, or brings about a proposal for business transaction with some terms. There are some ways to make an invitation to for offer, the inquiry is widely used. It is not with legal force, nor constituting an offer.
5. An acceptance must be indicated.
10.2 Establishment of International Business Contract
Establishment of Contract Significance of Signing a Contract Forms of Contract in Written Form
The key elements constituting an acceptance
1. An acceptance must be made by the specific offeree.
2. The contents of the acceptance must be in compliance with the offer, that is to say, the modification on the offer is usually regarded as a counter offer as stated above.
1. In case that the validity time is specified definitely in an offer, the offeree must make an acceptance within the stipulated time limit. The offer is not binding on the offeror when the validity expires.
willingness.
Significance of Signing a Contract
1. The evidence to prove a contract is established.
2. The term with which a contract comes into effect.
3. The afferor within the effective period of the offer.
4. The transmission way of the acceptance notice conforming to the requirement of the offer.
General Contents of Contract
Head General Clauses Ending
Case Study
Case 1 Case 2 Case 3 Case 4 Case 5 Case 6 Case 7 Case 8 Case 9
Establishment of Contract
Time of Establishment of a Contract Key Elements for an Effective Contract
1. The parties concerned must be with the conduct capacity to sign a contract.
3. The basis on which a contract is fulfilled.
Forms of Contract in Written Form
The form of a contract in written form is not limited. The both parties concerned may adopt anyone of these forms including Contract, Confirmation, Agreement or Memorandum. In addition, there are letter of intent, purchase order, authorization order sheet and the like to be taken as the form of a contract.
10.1 The procedure for the conclusion of sales contract
Definition of Contract Offer Inquiry Counter Offer Acceptance
Definition of Contract
A contract is an agreement reached by two or more than two parties concerned, in order to establish, modify or terminate the civil right and obligation of the parties.
3. With the indication that the offer is binding upon the offeror.
4. An offer comes into effect only when it reaches the offeree.
Validity time of an offer
Acceptance
Implication of an acceptance The key elements constituting an acceptance The period for an acceptance coming into effect Late Acceptance The Withdrawal of An Acceptance
Case 1:
Our company imports from abroad a batch of agricultural products and resold them to an American company. Our company makes an offer to the American company. The next day the American company accepts our offer completely. And they request us to offer the certificate of origin. Two weeks later, the American businessman opens an L/C to us. When we are prepared to dispatch the goods, we receive the advice from the Commodity inspection bureau. The certificate of origin should not be issued because the goods are not produced by Chinese company. Then we inform the American businessman to cancel the clause which is required to offer the certificate of origin, is rejected, so controversial. We put forward that we do not agree to provide the certificate of origin, so it is not our duty to offer it. However they believe that it is our duty to offer. Please try to make arbitration on this case according to the CISG.