West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1906-05-10
POPULAR TALKS ON LAW
William c. Sprasue, President Sprasus
correspondence School Of Law.
ARTICLE TREATS ON CONTRACTS
Paper No. Three-The Consideration
Required TO support n Contract,
which. OF Course Must Have Two
Sides.
Copyrighted, 1906.


iy an offer and an acceptance. II
either is lacking there is no contract.
Not every offer and acceptance
makes a contract for a breach OF
which an action will lie in the
courts. IL, for instance, l offer TO
entertain you at luncheon and / fail
to appear at the time, there is an
offer and an acceptance but no
breach OF contract. 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, il so understood,
can not lead up to a 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 a nod Of
the head, as in the case of bidding
at an auction, may constitute an
offer to buy. Acceptance too may
be made in any one of many ways,
there being no formality required,
unless in the case of few classes
of contracts where the statute has
provided that writing shall appear
stating the terms. or 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. II there is any vari.
alton between the offer and the
acceptance OF any conditions attend.
ing the acceptance, contract is
not made. Contracts made by cor.
resPondence are peculiarly subject
to fault in this particular. II the
correspondence does not show that
the minds of the two parties have
met upon identically the same pro-
position no contract can be implied.
Offers are frequently made to be
accepted within a certain time or at
a certain place, or In a certain man
ner. The acceptor in order 10 bind
the one making the offer must &C.
cept IN the terms of the offer to
form a binding contract.
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 oferee within which to ac.
cept1 The rule of law is that an
offer, once made, is presumed to
continue for a reasonabl time unless
II is sooner withdrawn. What is a
reasonable time depends upon the
circumstances of the case. Ii isa
matter for jury to decide in a
case before it as to wether the ac.
ceptance was made within reason
able time.
OF course, an offer, even although
made for definite time, may be
withdrawn at any time. This is
not true, OF course, if the person to
to whom the offer has been made
has paid or has agreed to pay some
thing 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 il. II / voluntarily offer to sell
tny house for sroo and give you
week in which to buy, / may with
draw the offer within the week with
out being liable to damage for not
keeping my promise; but, IL you
have given me something, no matter
how slight, il being Of some value,
or il you have agreed to give me
or render me some service in *.
change for the agreement 70 hold
the offer open, must do so or put
myself in danger Of a suit for dam
ages. After a reasonable time has
elapsed, the offer not being made
for definite time, il is not necess.
ary for one making the offer to
formally Withdrawn. II the one
offering wishes to withdraw before
a reasonable time has elapsed, he
must communicate the withdrawal
by word Or act to the oheree.
There are some thing that will
terminate an offer other than the
voluntary act Of the one Offering, as,
for instance, his death or his insan.
ity.
] Offers are sometimes made to the