Introduction: contract formation or "agreement"

In this first Section of the material, we will be discussing the general question of whether the parties are deemed to have reached an agreement. This inquiry is often broken down into discrete parts: Is there an offer? How long does the offer stay open? Has there been acceptance of the offer?

But first you will read a case that gets at the overarching question of whether the parties have reached an agreement. Lucy v. Zehmer is an early example of the development of the "objective approach" to contract law, and that approach remains the current rule. As you read the case, think about what kinds of evidence the court finds compelling and how that ties into the objective approach.