p. 11. Agreement
- Jill Poole, Jill PooleFormerly Deputy Dean, Aston Business School, and Professor of Commercial Law, Aston University
- James DevenneyJames DevenneyHead of School and Professor of Transnational Commercial Law, School of Law, Reading University, UK and Visiting Full Professor, University College Dublin, Ireland
- and Adam Shaw-MellorsAdam Shaw-MellorsSenior Lecturer in Commercial Law and Director of Employability, Law School, Aston University, UK
Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the components of agreement; an essential ingredient of a contract. Traditionally, an agreement is comprised of an offer and a corresponding acceptance. There are two types of agreement: bilateral and unilateral. Bilateral agreements are by far the most common in practice and consist of a promise in exchange for a promise. Unilateral agreements consist of a promise in exchange for an act. This chapter analyses the agreement process in terms of offer, acceptance, and revocation of offers in bilateral and unilateral scenarios in order to provide structures and scenarios for future use. It also explains the two-contract analysis which is used to impose pre-contractual liability in English law.