Question

cross offer meaning and example

Answer 1

Cross-Offer Law and Legal Definition. Cross-offer is a contract law term that refers to an offer made to another in ignorance that the offeree has made the same offer to the offeror. In a cross offer both parties state to each other the same proposal. For example, it will not mean acceptance of D's offer by M or M's offer by D. Both are making the offer and none of them is accepting the offer.

Answer 2

A cross offer in law refers to a situation when two parties make the same offer to each other without prior knowledge that either of them was going to make an offer. In addition, the fact that the offers are similar does not mean that the offer has already been accepted.

For example a small company wants to sell itself to a larger company for a specific amount. The larger company also want to buy the small company for the same amount. They both send out correspondence to each other at the same time. This is a cross offer.