Legal Question in Business Law in Illinois

Re: Coupon Possession

A coupon is a unilateral contract, for purposes of analyzing legal rights. For so long as the "offer" spelled out in the coupon is outstanding, the public can accept the offer by performing in accordance with the terms of the coupon. This usually requires, among other things, purchase of a particular product or service at an outlet that "honors" the coupon, and is willing to grant the discount in price in exchange for the product or service being purchased, and the payment promised by the issuer of the coupon.

The physical paper representing the "offer", the coupon, has no intrinsic value, but belongs to the person in lawful possession of the document. IF the coupon were stolen, improperly duplicated, altered, or otherwise handled in a manner not intended by the issuer, there may be a defense to honoring the "offer". Many coupons, but not all of them, require that as part of the performance of the offer, an original coupon be presented at the point of purchase.

Because each coupon is an offer, I can't answer further without actually reading the coupon in question. In addition to the text, general contract priciples will also apply to determine "rights" under a coupon, and to a coupon. Hopefully, the above was helpful.

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