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Author Topic: What's the difference between a promise and an offer?  (Read 3584 times)

Jumboshrimps

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What's the difference between a promise and an offer?
« on: December 13, 2005, 08:31:18 PM »
Well?

lakerat

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Re: What's the difference between a promise and an offer?
« Reply #1 on: December 14, 2005, 03:10:34 AM »
promise: (2) manifestation of intention to act or refrain from acting in a specified way, so made as to justify a promisee in understanding that a commitment has been made.

offer: (24) manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent to that bargain is invited and will conclude it.

so the way i read it, an offer is just a type of promise.

tacojohn

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Re: What's the difference between a promise and an offer?
« Reply #2 on: December 14, 2005, 09:38:00 AM »
An offer is NOT a type of promise.  An offer is merely a communication of the type of promise you might be willing to be bound by.  You can use promissory estoppel when someone breaks a promise, but you cannot use it when someone revokes an offer.  In a bilateral contract, once the offer has been accepted, it becomes a promise.

When you make an offer, it is true that the offeree has the power to hold you to that promise (by accepting it), but it's not a promise to enter into a contract because you can revoke it at any time.

jacy85

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Re: What's the difference between a promise and an offer?
« Reply #3 on: December 14, 2005, 01:38:17 PM »
You can use promissory estoppel in some limited cases where an offer is revoked.  When a gen contractor relies on an offer/price quote from a subcontractor is the most common example.

clindwa

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Re: What's the difference between a promise and an offer?
« Reply #4 on: December 14, 2005, 03:07:28 PM »
offer - statement that would lead a reasonable person to believe that they giving someone the ability to bind the parties.

dal79

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Re: What's the difference between a promise and an offer?
« Reply #5 on: December 14, 2005, 05:03:39 PM »
offer: manifestation of a willingness to enter into a legaly binding contract, but every contracts prof. has their own opinions

elemnopee

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Re: What's the difference between a promise and an offer?
« Reply #6 on: December 14, 2005, 10:56:36 PM »
a lot

S|

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Re: What's the difference between a promise and an offer?
« Reply #7 on: December 15, 2005, 01:17:49 AM »
An offer is made with the expectation of consideration whereas a promise is not.

I assume that the distinction would be important for promissary estoppel, but, as was mentioned earlier, a revoked offer and an unfulfilled promise would function in much the same way if there was reliance.




tacojohn

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Re: What's the difference between a promise and an offer?
« Reply #8 on: December 15, 2005, 10:35:14 AM »
You can use promissory estoppel in some limited cases where an offer is revoked.  When a gen contractor relies on an offer/price quote from a subcontractor is the most common example.
I thought that was the only example.

jacy85

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Re: What's the difference between a promise and an offer?
« Reply #9 on: December 15, 2005, 10:59:09 AM »
It might be the only example.  It's the only one I know, but I'm generally reluctant to say that there's ONLY one exception, or saying ALWAYS/NEVER.  It's the typical law school method of "always covering your @ss when you don't know everything (which is all the time!)"  :)