The topic of this podcast is the basic concepts related to invitations to negotiate or preliminary negotiations and other types of communications that are not offers. In particular, we will look at the basic attributes of advertisements, price quotations, invitations to bid, and auction sales.
On completion of the lesson, the student will be able to:
1. Identify the four types of communications that are typically not offers, but rather invitations to negotiate: (i) advertisements; (ii) catalogues and price quotations; (iii) requests for bids; and (iv) an auctioneer beginning an auction.
2. Describe when an offer might be made in response to one of these types of communications.