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Who or what is a promisor's agent?
PROMISOR - One who makes a promise.A promisor is bound to fulfill his promise, unless it is contrary to law. Therefore, a Promisor's Agent is one who is authorized to act for the Promisor, or in his stead.
Can an offeror revoke an option contract if the offeror decides that the consideration given is inadequate?
No, an offeror can't revoke an option contract if the offeror decides that the consideration given is inadequate. There would be an option to purchase the land.
Who is the promisor in a contract?
the promisor in a contract may also called Obligor.The promisor is a law term that refers to the party who is on the receiving end of a promise. The party making the promise is the promisee.Actually it's the other way around- a promisee is on the receiving end, while the promisor is the one making the promise. In a bilateral contract (I promise to give you my car, you promise to give me $10,000), both parties are promisor and promisee because they are each making a promise and receiving a promise.
The intent of the offeror to extend a serious offer to the offeree is typically determined by reference to?
the beliefs that the offeror has
What is the difference between offeree and offeror?
offeror means who is giving opportunity to someone.that pesron can accept it or not
Does an offeror's subjective intent determine the effectiveness of an offer?
No, an offeror's subjective intent does not determine the effectiveness of an offer.
What is the effect of death or insanity of the offeror?
Death or insanity of the offeror automatically terminates the offer. This applies even though the offeree is not aware of the death or the insanity of the offeror and communicates an acceptance of the offer. Both parties must be alive and competent to contract at the moment the acceptance is properly communicated to the offeror.
What is the definition of Promisor demands and receives as the price for a promise?
executor
To whom a contract must be performed?
The contracts must be performed by: (1) Promisor (2) Legal representative (3) Promisor's agent (4) Third party (5) Joint promisors.
A person extending a contract is called?
Offeror
When the offeree changes the offeror's terms it is called?
a counteroffer
What does offeror mean?
it means someone that offers something
