how long does an offer last contract law
Offer and acceptance Unless the offer included the key terms of the contract, it cannot be the basis of a binding contract. For example, as a minimum requirement for sale of goods contracts, a valid offer must include at least the following 4 terms: Delivery date, price, terms of payment that includes the date of payment and detail description of the item on offer including a fair description of the condition or type of service. Unless the minimum requirements are met, an offer of sale is not classified by the courts as a legal offer but is instead seen as an advertisement.
Sign and trade In the National Basketball Association, a sign-and-trade agreement is a type of contract (allowed by the collective bargaining agreement [CBA]) wherein one franchise/team signs an unrestricted free agent player to a new contract, only to then immediately trade him to another team (of the player's choosing). This is typically done to enable the player to obtain a higher salary and/or greater number of years on their contract than NBA salary cap rules ordinarily allow the destination team, itself, to provide the player.[1]