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- Offer & Acceptance Sec. 3 to 9 of ICA,1872
- Essential requirements of a valid offer: Offer must be made with a view to obtain acceptance. Offer must be made with the intention to create legal relations. Terms of offer must be definite,unambiguous & certain or capable of being made certain.The term of offer must not be loose,vague or ambiguous.10,11
- Offer must be distinguished from:(a) a mere declaration of intention or (b) an invitation to offer.12,13 The offer must be communicated to offeree.14 The offer must not contain a term the non-compliance of which may be assumed to amount to acceptance.14
- A tender is an offer as it is in response to an invitation to offer. (a)Specific15 or definite (b)Standing16 Special terms in offer must be duly brought to the notice of the offeree at the time the offer is made.17 Two identical cross-offers do not make a contract.18
- X Y X Y Cross Offer
- Termination or Lapse of Offer: The offer lapses after stipulated or reasonable time.19 An offer lapses by the death or insanity of the offeror or offeree. An offer terminates when rejected by the offeree. An offer terminates when revoked by the offeror before acceptance.
- An offer terminates by not being accepted in the mode prescribed or if no mode is prescribed in some usual & reasonable manner. A conditional offer terminates when conditions is not accepted by the offeree.20 It terminates by counter offer by the offeree.
- Acceptance Acceptance how made: Offeree Acceptance Assent to proposal
- Assent Expressed Implied writing Word of mouth By performance of some Required act.1 Surrounding circumstances Or the conduct of the parties.2
- WHO CAN ACCEPT?
- Essentials of a valid Acceptance: Acceptance must be Absolute & Unqualified4 Acceptance must be communicated to the offeror5( the acceptance of an offer can not implied from the silence of the offeree or his failure to answer)6 Acceptance must be according to the mode prescribed7
- Agreement to agree in future.8 It must be given within the time specified or within reasonable time It must be in response to offer It must be made before the offer lapses It must be given by the person to whom the offer is made Communication of offer & acceptance Revocation of offer & acceptance
- Communication Of Offer & Acceptance: Sec.4: The comm. Of a proposal is complete when it comes to the knowledge of the person to whom it is made. E.g. The comm. Of acceptance is complete: 1. as against the proposer, when it is put into a course of transmission to him, so as to be out of the power of the acceptor
- 2. As against the acceptor, when it comes to the knowledge of the proposer (ex.) The comm. Of a revocation(of an offer or an acceptance) is complete: 1.as against the person who makes it, when it is put into a course of transmission to the person to whom it is made, so as to be out of the power of the person who makes it.
- 2.as against the person to whom it is made when it comes to his knowledge.
- Revocation of Proposal & Acceptance: Sec 5 provides that a proposal may be revoked at any time before the comm. Of its acceptance is complete as against the proposer, but not afterwards. Also an acceptance may be revoked at any tome before the comm. Of the acceptance is complete as against the acceptor, but not afterwards.
- CARBOLIC SMOKE BALL