Acceptance of an offer can occur in many ways. (buyer-supplier contracts)

From: Purchasing | Date: July 20, 1989| Author: Decker, Russell | Copyright information

Acceptance of an offer can occur in many ways

A reasonable response is all it takes to form a contract binding both parties

Both bride and groom have to say "I do" to officially become husband and wife. Years ago, the formation of business contracts was similarly ritualistic. The "deposited acceptance" rule said that an acceptance became binding when it was placed in the proper medium by the offeree--either buyer or seller. The proper medium was the one d...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

Buyer worries contract will bury offer
Chicago Sun-Times ; Q. I'm a prospective first-time buyer. I recently put in an offer on a house. Unbeknownst to me, there was already an outstanding contract on the property. I've already applied for a mortgage and put down the application fee. Is there anything I can do to get my offer accepted? A. If contracts are
HOUSING COUNSEL; Without Signed Contract, Buyer Has No Grounds for Complaint Against Seller Taking Another Offer
The Washington Post ; Q: During this hot market, we put in an offer to buy a home. We told our buyer's broker to include a clause that allowed our starting offer to escalate $1,000 over the best offer, up to a fixed ceiling. Later that day we received a phone call from our agent indicating that the price was now $2,000
What to Do When a Buyer Makes an Offer
Chicago Sun-Times ; One of the times it's important to show some cool in real estate is when an agent representing a buyer walks up the sidewalk with an offer in his hand. Don't jump up and down with glee that somebody finally is going to buy your house. Don't meet the agent at the door like you've just won the
HOW CAN BUYER BE SURE SELLER RECEIVED A PURCHASE OFFER?(REAL ESTATE)
The News & Record (Piedmont Triad, NC) ; DEAR BOB: Recently you wrote: Real estate agents must present all written purchase offers to their sellers, no matter how ridiculous they might seem. The legal reason is the offer is a material fact, which must be disclosed to the home seller under the agent's fiduciary duty to disclose all facts.
How Does New Buyer Know What Price To Offer?
Chicago Sun-Times ; How much you offer to pay for a home should be based on the following factors: Current real estate market conditions: Is it a soft buyer's or a hot seller's market? How close the list price is to the actual market value of the home. The price you can afford to pay. The seller's motivation. How much