In the preface ,we learn the parties in equal status ,who are entitled to enter into a contract in accordance with their respective intention ,must abide by the principles of voluntariness ,fairness and good faith ,which are also the basic principles of Civil Law .

Then let’s glance at offer and acceptance . An offer is a manifestation of intention to another person with whom the offeror wants to conclude a contract . An offer can be withdrawn and revoked ,where the withdrawal and revocation will be effective upon their respective notification reach the offoree before or at the same time as offer ,and reach the offeree before the notification of acceptance being dispatched .

The terms of the acceptance shall be identical to those of the offer ,which reminds us the famous “mirror image” rule .An acceptance ,dispatched within the period and in the mode prescribed in the offer , or within the reasonable time and in a reasonable mode if there isn’t relevant provisions in the offer ,will be effective at the time its notification reaches the offeror .Please pay your attention ,it’s different with the “mailbox rule” ,which an acceptance will be effective upon its being proper dispatched .

Next we meet with the time ,place and mode of formation of contract ,also the circumstances which the party shall bear pre-contract liabilities .The validity of contract is important among what we’ve learned last week .We must distinguish clearly the circumstances where the effectiveness depending on ratification ,unauthorized disposal and invalidation of contract .