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What is the word OFFER and its rules?
An offer is a kind of promise between the parties, which depends on a certain act/forbearance given. In other words, an offer is an invitation to enter into a contract with certain terms.
According to the Section 2 (a) of Indian Contract Act, “An offer is defined as, when one person signifies to another about his willingness to do or to abstain from doing anything with a view to obtaining the assent of that other to such act or business, he is said to make a proposal”.
Offeror/propose is a party making an offer to others.
Offeree/propose is a party to whom an offer has been made.
Types of OFFER
The types of offer are discussed below −
Express offer − An offer done through words (either oral or written).
Implied offer − An offer conveyed through signs/acting.
General offer − An offer made to the public.
Specific offer − An offer made to a particular/specified person or group.
Cross offer − Both parties make similar offers to each other without knowing.
Counter offer − An offer made subject to modifications of an original offer.
Standing offer − An offer is continuous.
Rules of OFFER
The rules of offer are explained below −
Legal relationship is created between the parties.
Terms and conditions of an offer must be clear and certain.
Declaration of intention should be given.
Communication between parties should be clear.
Offeror should not pressurize the Offeree.
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