define the offer. what are the essential of a vaild offer.
Answers (2)
13th Feb, 2022
hey there,
An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted. An offer is also defined as the act of offering something for sale, or the submission of a bid to buy something.
Essentials of a valid offer
1. Offer must be communicated
2. Must create legal relationship
3. Definite, unambiguous and certain in nature
4. It must distinguished from invitation to offer
5. It may be general or specific in nature
6. Offer must be made with a view to obtain the assent :-
An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted. An offer is also defined as the act of offering something for sale, or the submission of a bid to buy something.
Essentials of a valid offer
1. Offer must be communicated
2. Must create legal relationship
3. Definite, unambiguous and certain in nature
4. It must distinguished from invitation to offer
5. It may be general or specific in nature
6. Offer must be made with a view to obtain the assent :-
Comments (0)
12th Feb, 2022
Hi!!!
Hope you are doing well.
An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted. An offer is also defined as the act of offering something for sale, or the submission of a bid to buy something.
The essentials of a valid offer are :-
- The offer must be communicated.
- Terms of the offer must be clear and definite.
- Must create a legal relationship.
Hope you are clear now. Feel free to ask if you have any other queries. All The Best!!!
Comments (0)
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