Offer And Acceptance - Tips
Offer and acceptance
Quote:
Offerandacceptanceanalysisisatraditionalapproachincontractlawusedtodeterminewhetheranagreementexistsbetweentwoparties.Anofferis
anindicationbyoneperson("offeror")toanother("offeree")oftheofferor'swillingnesstocontractoncertaintermswithoutfurthernegotiations.A
contractisthenformedifthereisexpressorimpliedagreement.Acontractissaidtocomeintoexistencewhenacceptanceofanofferhasbeen
communicatedtotheofferorbytheofferee.
Theofferandacceptanceformula,developedinthe19thcentury,identifiesamomentofformationwhenthepartiesareofonemind.Thisclassical
approachtocontractformationhasbeenweakenedbydevelopmentsinthelawofestoppel,misleadingconduct,misrepresentationandunjust
enrichment.
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http://en.wikipedia.org/wiki/Offer_and_acceptance
Offer and acceptance
Offer And Acceptance - Tips
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