OFFER
The offer means to present something so that it may be accepted or rejected. It is the proposal presented by one person to another. This types of proposal create a legal obligation if i is accepted by the acceptance parties.
A valid offer may have expressed or implied.
For e.g: A offer to sell his motorcycle to b for rs. 3000.B agrees to pay A Rs.3000 for the motorcycle.Here A is called thre offeror or promiser and B the offerree or promise.
TYPES OF OFFER
Specific & General Offer: A offer which is made to a particular person is called the specific offer and where it is made to the general public is called the general offer.
Cross & Counter Offer: When both parties make their offer to each other at the same time is called the cross offer. This offer cannot be a valid offer because acceptance and offer are required from the two parties for making a contract.
When an offeree intends to accept the offer after alternation in any term of the offer is called counter offer.
RULES REGARDING THE VALID OFFER:
- Creating a legal relationship.
- The offer should not be certain and should be made to a definite person.
- Offer may be conditional
- Offer and offeree must be communicated.
- Th offer can be expressed in different as written, spoken and implied.
- Offer is seeking acceptance of other parties.
- Offer may be specific to a person.
- An offer should not contain the term that non-communication or rejection would amount to an acceptance.
- Invitation to offer is not an offer.
- An advertisement is not the offer.
LAPSE & REVOCATION OF OFFER(When Contract is ending):
- An offer lapses after reasonable and given time.
- An offer lapses by not being accepted in the mode prescribed in some usual and reasonable manner.
- An offer lapses by rejection. If Offeree rejects the offer then offer is rejected.
- An offer lapses by the death or insanity of the offeror or offeree before acceptance.
- When an offer is illegal.
