Discussions in Contracts: Duration of Offers Podcast
The topic of this podcast is how to determine the duration of the power of acceptance in the offeree and whether that power of acceptance has been terminated. Recall that a contract is a promise or set of promises which the law enforces. Ordinarily, the manifestation of mutual assent takes place by virtue of an offer by the offeror, which is then followed by an acceptance by the offeree. Once an offer is terminated, the power of acceptance is no longer present unless the offeror revives the offer at a later time.