What are the requirements of an acceptance?

Answer 1

Actually, consideration has nothing to do with offer and acceptance. It's a totally unrelated concept.

A valid offer is essentially a statement or action which unambiguously lays out the terms of the proposed agreement (e.g. "I will pay you $1,000 if you paint my house" - if the offeree accepts, there will be no question as to the obligations of each party - the offeree has to paint the house, at which point the offeror has to pay him $1,000). The statement must also clearly leave the offeree with the power of acceptance - it must be something which the offeree can clearly accept or reject.

A valid acceptance unambiguously adopts the terms of the offer, indicating an intent to perform under those terms.

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consideration

Answer 2

An oral contract is a contract the terms of which have been agreed by spoken communication, in contrast to a written contract, where the contract is a written document. There may be written, or other physical evidence, of an oral contract - for example where the parties write down what they have agreed - but the contract itself is not a written one.

In general, oral contracts are just as valid as written ones, but some jurisdictions either require a contract to be in writing in certain circumstances (for example where real property is being conveyed, or that a contract be evidenced in writing (though it may be oral). An example of the latter being the requirement that contract of guarantee be evidenced in writing that is found in the Statute of Frauds.

Similarly, the limitation period prescribed for an action may be shorter for an oral contract than it is for a written one.

The term verbal contract is sometimes incorrectly used as a synonym for oral contract. However, a verbal contract is one that is agreed to using words, either written or spoken, as opposed to an implied contract.[1]

Answer 3

Nothing is usually required for acceptance of a valid offer other than a verbal affirmation. Sometimes you are required to sign a written offer.

Answer 4

The acceptance must be unconditional and must follow the rules regarding the method of acceptance.