The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1906-05-03
POPULAR TALKS ON LAW.
Copyrighted 1905, by William c. Spra-
que, President The Sprague
Correspondence School
of Law.
CONTRACTS.
3.-WHAT MAKES A CONTRACT.

There are two elements that are al
ways present in contract, namely an
offer and An acceptance. IT either is
lacking, there is no contract. Not every
offer and acceptance makes n contract
for breach of which an action will lie
in the courts If, for instance, | offer
to entertain you at luncheon and | fail
to appear at the time, there is an offer
and acceptance but no breach OF con-
tract. Therefore we should understand
that the offer, in order to lead up to a
contract, must be an offer of contract,
that is, something intended to change
the legal relations of the parties; so, an
offer made in jest, if so understood, can
not lead mp to contract.
AS to how the offer must be made no
rules can be laid down. 1t may be made
orally or in the form of writing, by
signs, by advertisement, and by any
number of other ways A mere wink of
the eye or nod of the head, as in the
case of bidding a: an auction, may con
stitute an offer to buy. Acceptance, too,
may be made in any one Of many ways,
there being no formality required, I'M
less in the case Of few classes of con-
tracts where the statute has provided
that writing shall appear stating the
terms. OF these kinds of contracts we
shall speak later.
In order to make a contract the offer
must be accepted In the terms Of the
offer If there is any variation between
the offer and the acceptance or any con
ditions attending the acceptance,
contract is not made. Contracts made
by correspondence are peculiarly subject
to fault in this particular. If the
correspondence does not show that the
minds of the two parties have met upon
identically the same proposition, no con-
tract can be implied.
Offers are frequently made to be &C
copied within u certain time or at
certain place, or in a certain manner.
The acceptor in order to bind the one
making the offer must accept in the
terms of the offer to form binding con
tract
Difficulty sometimes arises in cases
where the time wherein which an offer
may be accepted is not stated. 1t may
be said generally that an offer may be
accepted while it continues open but,
where there is no definite time within
which acceptance must be made, how
long has the offeree within which to nc
cept? The rule of law is that an offer,
once made, is presumed to continue for
a reasonable time unless it is sooner
withdrawn. What is a reasonable time
depends upon the circumstances of the
case. 1t is matter for jury to decide
in case before it rs to whether the &C
ceptance was made within reasonable
time.
OF course, an offer even although
made for definite time, may be with
drawn at any time. This is not true, of
course, if the person to whom the offer
has been made has paid or has agreed to
pay something to have the offer left
open.
This brings up the question Of option.
An option has no value within the law
unless something has been paid, or is
agreed to be paid for it. If voluntarily
offer to sell my horse for 800 and give
you week in which to buy, | may
withdraw the offer within the week
without being liable to damages for not
keeping my promise; but, if you have
given me something, no matter how
slight, it being of some value, or if you
have agreed to give me something or
render me some service in exchange for
the agreement to hold the offer open,
must do 30 or put myself in danger Of
suit of damages. After reasonable
time has elapsed, the offer not being
made for II definite time, it is not neces
sary for one making the offer to formal
ly withdraw it, as the law will presume
it to be withdrawn. If the one Offering
wishes to withdraw before reasonable
time has elapsed, he must communicate
the withdrawal by word or act to the
ofTeree.
There are some things that will termi.
nate an offer other than the voluntary
act Of the one Offering az, for instance,
his death or his insanity.
Offers are sometimes made to the
general public, no particular persons
being specified, W. when an offer OF re-
ward Is made in newspaper or by
posters In such cases any one may &C
cept if he does so before the offer il with.
drawn; and in order for it TO be with
drawn the same means must be used as
was used in making it public.
In orr next we shall treat of the i'm.
portant subject, Contracts by Mail and
Telegraph
To be continued