The terms offer and acceptance essay

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The terms offer and acceptance essay

Article shared by Main essentials of a valid acceptance are mentioned below: Acceptance must be given by the person to whom the proposal is made: An acceptance to be valid must be given The terms offer and acceptance essay by a person to whom offer has been given.

In other words, acceptance must move from the offeree and no one else.

The terms offer and acceptance essay

Acceptance can be given only when the acceptor has the knowledge of the offer: Acceptance therefore cannot be given without the knowledge of offer, as in case of Lalman Shukla v Gauri Dutt.

The acceptance must be absolute and unconditional: It is another important essential element of a valid acceptance. A valid contract arises only if the acceptance is absolute and unconditional. It means that the acceptance should be in total i.

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Thus, an acceptance with a variation is no acceptance. It is simply a counter offer. A counter offer puts an end to the original offer, and it cannot be revived by subsequent acceptance.

Agreement in Traditional and E-Contracts Essay Sample

The acceptance must be given within the time prescribed or within a reasonable time: Sometimes, the time limit is fixed within which an acceptance is to be given.

In such cases, the acceptance must be given within the fixed time limit. In case, no time is prescribed, the acceptance should be given within a reasonable time. The acceptance must be given before the lapse of offer: A valid contract can arise only when the acceptance is given before the offer has elapsed or withdrawn.

An acceptance which is made after the withdrawal of the offer is invalid, and does not create any legal relationship. The acceptance must be communicated: It is an important and essential element of a valid acceptance. The definition of acceptance as given in Sec.

Offers & invitations to treat

According to this, the consent to the offer should be signified i. In other words, the acceptance is completed only when it has been communicated to the offeror.

It may be noted that until the acceptance is communicated, it does not create any legal relations. The acceptance must be communicated to the offer or himself: A valid contract arises only if the acceptance is communicated to the offeror himself. If acceptance is communicated to the person, other than the offeror, it will not create any legal relationship.

In fact, such communication is no communication at all. The acceptance must be in the prescribed manner: It is the legal rule of the acceptance that it must be accepted in the prescribed manner. If the offer is not accepted in the prescribed manner, then the offeror may reject the acceptance within reasonable time.

It may, however, be noted that, if the offeror does not reject the acceptance within a reasonable time then he becomes bound by acceptance.

The acceptance must be given in some usual and reasonable manner: It is another important legal rule of an acceptance that where no mode is prescribed, acceptance must be given in some usual and reasonable manner.

In such cases, the mail course is considered, a very reasonable manner. The acceptance must show an intention that acceptor is willing to fulfil the terms of the offer:The offer will usually indicate the form the acceptance should take (e.g., in writing, by post), and may indicate when the acceptance will be deemed to have occurred (e.g., on delivery of the posted acceptance, see: Acceptance of offer by post).

This is a sample of our (approximately) 5 page long Introduction To Offer And Acceptance notes, which we sell as part of the Contract Law Notes collection, a High Distinction package written at University Of New South Wales in that contains (approximately) page of notes across 17 different document.

Excerpt from Essay: Contracts The basic elements of a contract are offer, acceptance and consideration. In this instance, the two parties have agreed to a . • Mutual Assent CAN exist where one party makes a valid offer and the other party makes a valid acceptance.

However, even when there is no offer and/or no acceptance, there can still be mutual assent for a contract to exist.

Introduction To Offer And Acceptance | Oxbridge Notes Australia

Oct 04,  · Under the common law, the terms in the acceptance must match the terms of the offer exactly – otherwise it is not an acceptance, it is a counteroffer.

UCC ("BATTLE OF THE FORMS"). The offer contained provisions relating to the delivery schedule, warranties, and payment terms, but did not specify a particular mode of acceptance of the offer. Boss immediately decided to accept the offer, and telephoned Seller’s office.

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