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Contracts Summary UNISA
Must first use conventional approach of locating offer and acceptance (Gibson). Offer Offeror/promisor = person making the offer. Offeree/promisee = person to whom the offer is made. Types of offer 1. Bilateral contract At the time of formation the obligations of both parties remain to be performed (they are executory); or 2. Unilateral contract At the time of formation the offeree has already performed all their obligations (they are executed). The obligations of the offeror are executory.
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