1. What is an offer? Offer 2. Explain the two (2) types of offer? 3. Distinguish between an offer and an invitation to treat. 4. What types of communication do not constitute an offer? 5. Explain each type of communication identified in (4) above. 6. When is an offer effective? 7. Explain the difference between a counter- offer and request for information.

8. Explain whether each of the following is a bilateral offer, unilateral offer or not an offer at all:

a. John places an advertisement in the newspaper: "Anyone who finds my dog 'Fluffy' and returns him to me will receive a reward of $10,000".

b. Goodies Store Limited has a display of toys in its shop window with the caption: "This is the best offer since 2002! Each toy costs only $10.00".

c. Jane and Mary are discussing the sale of Mary's car. Mary is eager and agrees to sell the car to Jane who is to pay $1,000,000.

d. John: I need a bicycle

Peter: I have a blue one I am thinking of getting rid of

John: How much would you be willing to sell it for?

Peter: $50

John : OK great I will take it for $50

Peter's phone rings and he runs off to deal with an emergency. The next day John deposits $50 into Peter's bank account. Peter refunds John's money and refuses to hand over the bicycle as he has learnt that the bicycle was ridden by UB when they were schoolmates and is now worth a fortune.