Business Law: Offer and Acceptance.
For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree' (Card 2002). This offer could be made to a specific person, in which case it cannot be accepted by anyone other than that individual. On the other hand it could be made to a group of people or the whole world! Usually the offer will indicate a number of things like in which form the acceptance should take, it may also have a time limit for acceptance attached to it. In which case this will be a self-terminating contract. If the offer does not have a time limit the courts may deem the offer to have expired after a reasonable time even if the offerers haven't actually revoked the offer. An offer can be revoked at any point up to acceptance as......
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