What is the meaning of mirror image rule?
The mirror image rule means that when you accept an agreement, you’re doing so based on the exact terms of the original offer. It’s also called the “absolute acceptance” rule, meaning that the parties offer and accept the exact terms, in order to create a contract.
What is the mirror image rule in real estate?
The mirror image rule is an established principle stating that for a contract to be valid and legally enforceable, the acceptance of the offer must exactly match the offer that is given. If you refuse or offer different terms, there is no contract.
Is mirror image rule UCC or common law?
Common Law Mirror Image Rule Under well-established common law rules, no contract is formed when parties exchange documents unless the terms match exactly. This is called the mirror image rule and it applies to contracts for services or land (not goods, which are governed by the UCC).
Why does the UCC change the common law mirror image rule and how?
The common law mirror image rule tells us that to form a contract the terms of the acceptance should match the terms of the offer. Also, the UCC was concerned with circumstances where parties form a contract by conduct, and the party who sent the last form was always able to dictate the terms of the contract.
Is the mirror image rule a common law or UCC?
The Mirror Image Rule says that in order to form a valid and enforceable contract, the two parties must have documents that contain identical terms and conditions. This common-law rule applies to contracts for services or for real estate, but not for the sale of good (which, again, is governed by the UCC).
How has the UCC changed the common law mirror image rule?
What is the mirror image rule How is it changed by the UCC?
How does the UCC change the mirror image rule?
Does the mirror image rule still apply?
In the United States, this rule still exists at common law. However, the Uniform Commercial Code (“UCC”) dispenses with it in § 2-207. (but it can also be argued that § 2-207(1) enforces the mirror image rule) Therefore, its applicability depends upon what law governs.