The document discusses the definition of an offer under contract law. It states that an offer is a proposal by one party to enter into a valid contract, and that there are three conditions for a proposal to qualify as an offer: 1) the offeror must intend to be bound, 2) the offer must be communicated to the offeree, and 3) the offer terms must be certain and definite. It also lists the four required terms for an offer to be valid: price, subject matter, parties, and time of performance. Finally, it briefly introduces the Uniform Commercial Code and its impact on contractual offers.

1. Chapter 2
OFFER
In this chapter you will:
 Define offer
 Identify the three conditions necessary to create a valid offer
 Explain the concept of certainty and definiteness in the terms of an
offer
 List the four required terms in a valid offer
 Briefly discuss what is the UCC
 Discuss the impact of the UCC on traditional legal principles of a
contractual offer
 Know what is meant by an output contract
 Apply basic concepts of an offer to contractual clauses
 Draft a basic offer that would meet legal standards
 Indicate the difference between contracting with a member of the
general public and a merchant

2. Offer Defined
An offer is a proposal by one party, the
offeror, to a second party, the offeree,
manifesting an intention to enter into a
valid contract.

3. Three Conditions for a
Proposal to Qualify as a
Contractual Offer
1. The offeror must manifest a present
contractual intent.
2. The offer must be communicated to the
offeree.
3. The offer must be certain and definite with
respect to its terms

4. Certainty and Definiteness in
the Terms of the Offer
 Four essential elements for definite and
certain terms:
 The price of the contract
 The subject matter of the contract
 The parties to the contract
 The time of performance for fulfilling the
contract

5. Uniform Commercial Code
The Uniform Commercial Code (UCC) is a
model law adopted in whole or in part by
each state as a statutory enactment that,
among other things, has codified certain
contractual concepts with respect to the
sale of goods.