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1. Contract springs from offer and acceptance
Agreement traceable to question and answer
Forms of offer and acceptance
Unilateral and bilateral contracts
Executed and executory consideration
2. Offer and acceptance may be made by words or conduct
Difference between express and implied contracts
Inferences deducible from conduct
3. Offer must be communicated.
Ignorance of offered promise
.
Ignorance of offered act
Ignorance of offered terms
4. Acceptance must be communicated or manifested.
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5. Acceptance manifested in manner prescribed by offer
Requisites of communication of acceptance
Acceptance by post or telegraph
Offeror may prescribe mode of acceptance
Can acceptance be revoked?
6. Offer may lapse or be revoked
Lapse of offer: forms of
Revocation of offer.
Valid before acceptance
Useless after acceptance
Offer under seal irrevocable
Must revocation be communicated?
Cook v. Oxley
Ratification of voidable contracts: common law and statute. 131