Offer, Acceptance and the Moment of Contract Formation
Offer, Acceptance and the Moment of Contract Formation
This chapter examines the issues of offer, acceptance and contract formation under the Principles of European Contract Law (PECL). It explains that the offer and acceptance model is a standard feature of modern contract law in South Africa and Scotland, and that PECL embraces the offer and acceptance model for contract formation found in most Western legal systems today. The chapter argues that in rejecting both consideration and causa as requirements for contract formation, PECL endorses the offer and acceptance model as the primary and sole vehicle for analysing the parties' interaction to establish whether, and when, a contract has come into existence. In this sense, PECL is closely aligned to both Scots and South African law.
Keywords: PECL, offer, acceptance, contract formation, contract law, South Africa, Scotland, Western legal systems
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