Business Studies, asked by aniketsugandhi, 1 year ago

Long Answer Type Questions
Explain the legal provisions regarding offer and acceptance​

Answers

Answered by nidatabassum
12

Explanation:

*The proposal when accepted becomes a promise.” So as the definition states, when the offeree to whom the proposal is made, unconditionally accepts the offer it will amount to acceptance. ... An offer does not create any legal obligations, but after the offer is accepted it becomes a promise.

*An offer must be communicated to the offeree : An offer must be communicated to the person to whom the same is addressed. Communication of offer is important to conclude an agreement because acceptance can be given only after one knows about the offer. This applies to both 'specific' as well as 'general' offer.

*Acceptance must be communicated by the acceptor : The communication of acceptance may be express or implied. Acceptance should be made known to the offeror. A mere mental acceptance is no acceptance in the eyes of law.

*An offer and its acceptance, to be valid must be communicated to the other party. The communication of an offer is complete when it comes to the knowledge of the person to whom it is made. When an offer is made by post, its communication will be complete when the offeree receives the letter.

Answered by gratefuljarette
1

The legal acceptance of an offer leads to creating of a proposal. Once the proposal is made and is accepted by the other party then it is bound by an agreement which is converted into a legal relationship between the parties.

Explanation:

  • The offer can be made to a specific person or an organisation and it has to be accepted by them and not by anyone else without their consent. The offer should be made in clear and definite terms and communicated to the right person for whom it is made.
  • The acceptance of the offer should be well communicated in the rightful manner. The offer can always be taken back before it is formally accepted. The offer cannot be accepted by any third party without any kind of authorization note
  • Any agreement  is not complete till the offer is formally accepted. Sometimes the offer can also be negotiated and another offer can also be made simultaneously. Once the offer is accepted in the rightful way it becomes an agreement or a promise.

To know more about acceptance of offer

Does every contract have an offer and acceptance? If so, does an offer need to be explicitly accepted for the contract to be binding?

https://brainly.in/question/2998157

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