Explain the difference between a public offer and an invitation to trade.
Read Chapter 8, Section 8-1 to learn about the requirements of an offer. Then do the following:
Create two scenarios in which you think an offer does not have clear and reasonably definite terms. Then revise those two scenarios such that each does have clear and reasonably definite terms. I want you to think about what details are necessary to create a legally binding offer.
Explain the difference between a public offer and an invitation to trade. Create an example of each.
Read “Cases for Analysis” 1 on page 188 and answer the question after that case. Determine if an offer has occurred. Explain your reasoning.