What is an offer? Explain the essentials of a valid offer with examples.
Answers
Answer:
The offer can directly communicate to the person specific to whom it is offered or it can be in general in nature. For example : “A” wants to sell his car and he has published an advertisement in newspaper which is a form to communicate the offer to general public. Hence it is a valid offer.
Explanation:
Answer:
An offer is a clear proposal to sell or buy a specific product or service under specific conditions. Offers are made in a manner that a reasonable person would understand its acceptance and will result in a binding contract.
Example : 1. Offer must be communicated :-The offer can directly communicate to the person specific to whom it is offered or it can be in general in nature.
2. Must create legal relationship: A valid offer creates a legal relationship which means there must be an intention of the offeror to work under legal obligation or to be legally bounded by law not under social obligation.
3. It may be general or specific in nature:- The offer can be given to public at large in general by advertisement in newspaper etc. or it can be given specific person too.