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Which one of the following situations would an offeror typically submit detailed cost or pricing data?

Updated: 12/4/2022

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Q: Which one of the following situations would an offeror typically submit detailed cost or pricing data?

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What is cross offer and counter offer?

Cross offer - When the offers made by two persons to each other containing similar terms of bargain cross each other in post they are known as cross offers. For example, on 1st January A offers to sell his radio set to B for Rs. 500/- through a letter sent by post. On the same date B also writes to A making an offer to purchase A's radio set for Rs. 500 /- When A or B send their letters they do not know about the offer which is being made by the other side. In these cross offers, even though both the parties intend the same bargain, there arises no contract. A contract could arise only if either A or B , after having the knowledge of the offer, had accepted the same.Counter Offer - A counter offer amounts to rejection of the original offer.Legal effect of counter offer:-(i) Rejection of original offer(ii) The original offer is lapsed(iii) A counter offer result is a new offer.For example -A offered to sell his pen to B for Rs.1,000. B replied, " I am ready to pay Rs.950." On A's refusal to sell at this price, B agreed to pay Rs.1,000. Held, there was not contract as the acceptance to buy it for Rs.950 was a counter offer, i.e. rejection of the offer of A. Subsequent acceptance to pay Rs.1,000 is a fresh offer from B to which A was not bound to give his acceptance.Answered by Kirankumar.G(CMA)

Related questions

For which one what situations would an offeror typically submit detailed cost or pricing data?

A sole-source proposal for a non-commercial item valued at $800,000

The intent of the offeror to extend a serious offer to the offeree is typically determined by reference to?

the beliefs that the offeror has

Can an offeror revoke an option contract if the offeror decides that the consideration given is inadequate?

No, an offeror can't revoke an option contract if the offeror decides that the consideration given is inadequate. There would be an option to purchase the land.

What is the difference between offeree and offeror?

offeror means who is giving opportunity to someone.that pesron can accept it or not

Does an offeror's subjective intent determine the effectiveness of an offer?

No, an offeror's subjective intent does not determine the effectiveness of an offer.

What is the effect of death or insanity of the offeror?

Death or insanity of the offeror automatically terminates the offer. This applies even though the offeree is not aware of the death or the insanity of the offeror and communicates an acceptance of the offer. Both parties must be alive and competent to contract at the moment the acceptance is properly communicated to the offeror.

What a is 3rd party creditor?

A 3rd party creditor is the other party that is involved in a legal dispute between the offeror and the offeree. Creditors are typically referred to as collectors.

Using only the following five letters form a seven letter word ORLEF?

feoffee, feoffer, feoffor, floorer, offerer, offeror, referee, reoffer

A person extending a contract is called?

Offeror

When the offeree changes the offeror's terms it is called?

a counteroffer

What does offeror mean?

it means someone that offers something

The withdrawal of an offer by the offeror is an example of what kind of contract?

revocation

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