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Define offer and acceptance

Updated: 9/16/2023
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9y ago

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Offer and acceptance are required to create a legally binding contract. The offer is contracted and then by signing the contract the other person indicates their acceptance of the terms.

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Q: Define offer and acceptance
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Related questions

Define the term offer and acceptance?

Offer and acceptance are most often seen when there is some sort of legal and binding contract being drawn up. The contractor makes and offer and the person they offer it to chooses to accept or not.


What is the difference between offer and acceptance?

difference between offer and acceptance?


What is the difference between an offer and acceptance?

difference between offer and acceptance?


When is communication for offer acceptance complete?

rules of acceptance


Define acceptance list out the legal formalities regarding acceptance?

-Acceptance must be made in response to to and in exchange for the proposal -Acceptance must exactly match the term of the proposal


What are the components of an offer?

An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.


What are the component parts of an offer?

An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.


Does Acceptance offer car insurance?

Acceptance does offer car insurance. If you contact them, a dedicated agent will be happy to help you sign up for the car insurance that Acceptance offers to its customers.


When acceptance of offer complete?

Generally an offer is accepted when acceptance is communicated to the offeror. This is covered under the section 8 of the INDIAN CONTRACT ACT.


If an acceptance that materially changes a term in the offer will still be considered an acceptance true or false?

False


What happens to an offer if no time limit for acceptance is mentioned in the offer?

if no time for acceptance is stated in the offer, it must be accepted within a reasonable time. otherwise, no contract exists. what is a reasonable time depends on the circumstances.


What is revoking an offer following acceptance?

Breach of Contract!