Friday, July 10, 2009

Contract law- what is offer and acceptance.?


Answers:
An offer consists of definite terms, an intent to be bound, and it must be communicated or expressed to the offeree. The offer must be legal or the resulting contract is unenforceable.

An acceptance is the manefestation of acceptance of the terms of the offer by words or conduct that would lead a reasonable person in the offeror's position to believe that the offer was accepted. The offeree must know of the offer, have the right to accept the offer, must do so within a reasonable amount of time, and must meet any conditions set forth in the offer.
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