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Insert Image from the Accounting Contract

Insert Image from the Accounting Contract

Aug 6th, 2022

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How to Insert Image from the Accounting Contract

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In this video, the common-law mirror image rule for contracts is explained. The rule states that acceptance must match the terms of the offer exactly for a valid contract to exist. For example, if a farmer offers to sell a thousand red apples with delivery by truck the next day, and a businessman agrees but requests delivery by train, the acceptance deviates from the original terms. According to the mirror image rule, this means the businessman has rejected the farmer's offer and instead made a counteroffer. The farmer then has the option to either reject the counteroffer or accept it, which would obligate him to deliver the apples by train.

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