Is there a difference between ‘I have read and understood the terms’ and ‘I accept the terms in a business to business contract’?

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Published by a ��Ƶ Commercial expert

Published on: 29 January 2019

The implications of using different terminology are likely to depend on the specific circumstances as interpreted by the relevant court.

This Q&A considers the implications of using different terminology in a contract in the context of both contract formation and contract interpretation.

Contract formation

A contract will only be capable of being enforced if it an offer has been accepted. An acceptance is a final and unqualified expression of assent to the terms of an offer. This means that the following will not generally be sufficient to constitute acceptance:

•
mere acknowledgement of receipt of the offer
•
assent to an offer, which contains two alternative

Jurisdiction(s):

United Kingdom

Key definition:

Contract definition

What does Contract mean?

A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.

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