L2_Offer Auctions 요약영상

Stop memorizing the rules on offers. There's really just one picture you need to keep in your head. An offer is something that hands the other person a yes. Once they say it, the deal is closed. So in every fact pattern, ask one question. Who holds the yes? Picture the offerer holding a big button marked YES. When she makes an offer, she hands that button over to the offeree. If the offeree presses it, a contract snaps into place. Lawyers call that button the power of acceptance. But how do we know a button was really handed over? We don't look inside the offerer's head. We ask what a reasonable person, standing in the offeree's shoes, would believe. That's Lucy versus Zehmer. Over drinks, Zehmer wrote on the back of a restaurant check that he'd sell his farm to Lucy for $50,000. Later, he said it was all a joke. The court didn't care about his secret joke. They had talked it over for a long time, Zehmer rewrote the deal, and he and his wife both signed it. A reasonable person would take that seriously, so the contract was binding. One more thing, the button only goes to the person the offer is aimed at. Someone who just overhears it has nothing to press. And the offeree can't pass the button to someone else, unless it's an option. You also can't press a button you never knew you had. In Glover, a woman gave police information about a murder without knowing a reward had been offered. No knowledge of the offer, so no reward. No knowledge of the offer, so no reward. Next, the button has to be wired to something a court can actually enforce. That means the offer needs enough terms. At common law, think P, S, P, T, Q. Parties, subject matter, price, time, and quantity. If an essential piece is missing, there may be no offer at all. And for land, you need the price and a description of the property. The UCC, for sales of goods, is much more relaxed. It really only needs the parties and the quantity. price, time, and place of delivery can be filled in by the code's gap fillers. But quantity is the one thing a court won't fill in. A judge can work out a reasonable price. A judge can't guess how many you wanted. Here's the twist. Requirements and output contracts are fine. I'll buy all I need from you works because good faith sets the number. But all I want? That promises nothing. It's illusory. Now, advertisements. The general rule is that an ad is just an invitation. It's a flyer that says, come in and make me an offer. There's no button inside it. That changes when the ad is clear, definite, and leaves nothing to negotiate. Count four things. What's being sold, how many, the price, and who can accept. In Lefkowitz, a store advertised one black stole worth about $140 for just $1 first come, first served. Lefkowitz was first in line. The store refused him, saying the deal was only for women. The court said that ad was an offer. Every term was spelled out, so showing up first was the acceptance, and the store couldn't add a brand new condition after the fact. So how do you take back an offer made to the whole public? You have to announce the revocation at least as widely as the offer. In Shui, the government withdrew a reward the same way it had announced it, and that worked, even against someone who never saw the withdrawal. Quick example, a hardware chain runs a big newspaper ad. The first 40 customers get a $900 generator for $300. Later, it tapes a small note to the front door, saying canceled. That little note is nowhere near as public as the newspaper ad, so the revocation fails. A customer who came in on the ad can still accept, and she recovers the $600 difference. Auctions flip the picture. Here, the bidder is the one making the offer. Every raised paddle is an offer, and the yes belongs to the auctioneer. When the hammer falls, that's the acceptance. If nobody says anything about reserve, the auction is with reserve. That's the default. Until the hammer falls, the seller can still pull the item off the block. Only when the auction is expressly announced, as without reserve does that change. Then, once the first bid comes in, the item can't be withdrawn. Either way, a bidder can take back a bid before the hammer falls. But that doesn't bring the earlier bid back to life. Now, watch for the shill. Bidder offers 5000 and B offers 6. Then the seller has a friend secretly bid 7, and the auctioneer knowingly takes it. B goes to 8, and the hammer falls. When B finds out, B gets a choice. walk away from the sale, walk away from the sale, walk away from the sale. 요약 영상, 요약 영상, 요약 영상.